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How to ensure Immovable Property partition
17-Jun-2023 (In Corporate Law)
A partnership firm having 4 equal share partners own a property of 2 acres. This P.F. has signed a development agreement with a developer. Now the partners for some reason want to do partition of land. Question : 1. Is it possible to do partition dees without the consent of developer? 2. Is it possible with the consent of developer. 3. What is the best way to do the partition of said 2 acres. FYI the Joint venture will be again done with the same developer seperately by 2 parties after partition and developer is agree but He doesn't want to cancel since there is a risk factor of Not signing the agreement. Thank you.
Sir, it is better to partition the said land with the consent of the developer since he is a party to the agreement. If the partners are in talking terms, a partition deed would be sufficient to make the partition. You may contact us for more details.
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Adv. Abhishek Dutt
Kolkata | 100+ Answers
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Draft a Memorandum of Understanding among the partners with regards to the partition of 2 acres. Thereafter proceed with the Joint Venture Work with the Developer and once the project is complete then all the partners can can take their rights as agreed by them in the Memorandum of Understanding.
It makes no sense, to reveal your internal disputes with the developer and it may happen due to such internal disputes no developer would be ready to go ahead with the project. Whatever differences you partners may have among yourselves, the same has to be resolved amicably without disturbing the normal course of business and all the partners together must assist in the development of the property to ensure proper development of the property.
Regards,
Sohail Haque
It makes no sense, to reveal your internal disputes with the developer and it may happen due to such internal disputes no developer would be ready to go ahead with the project. Whatever differences you partners may have among yourselves, the same has to be resolved amicably without disturbing the normal course of business and all the partners together must assist in the development of the property to ensure proper development of the property.
Regards,
Sohail Haque
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Adv. Sohail Haque
Kolkata | 25+ Answers
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It is imperative to study the deed of the partnership​ firm, the agreement entered into with the developer, the title deed of the property.Only after thorough perusal of the aforesaid legal instruments opinion on the queries can given.Contact lawRato for further instructions and guidance.
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Adv. Goutam Majumder
Kolkata | 200+ Answers
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