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agreement for exchange of property between partners
29-Aug-2023 (In Property Law)
We had purchased a property 2 adjoining offices with a friend with the intention to start a partnership firm.Now the partnership did not materialise and we want to separate the offices.However the other partner is keen to continue using the said office as his own and we have no objection and in exchange will give us a property that is on his name of equal value. I wish to know if there is any such exchange agreement that we could get into and have clear titles in future on the properties so that there is no dispute.
Hello Sir,
There is no need of any such exchange will or agreement simply you can show the sale of the said partnership office and he can sell the property of his to you the same moment you both can transfer the properties the same day.
There is no need of any such exchange will or agreement simply you can show the sale of the said partnership office and he can sell the property of his to you the same moment you both can transfer the properties the same day.
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Adv. Rohit Beaspal
Jaipur | 25+ Answers
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I am presuming you both purchased both the properties by separate agreements in your joint names. If this is the case each of you releases his half undivided shares to the other which would result to ownership of each of you in both the respective offices. This will involve payment is stamp duty and registration.
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