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partnership

  1. #21

    Join Date
    May 2014
    Location
    Hong Kong
    Posts
    281

    In case you need another second opinion from a Conveyancing law firm, my contacts are located in Central and Yuen Long. Cantonese-speaking for sure. Lmk, I’m happy to pm you the contact numbers.
    +1 for independence. Partnerships are tacky even if they’re close relatives.


  2. #22

    Join Date
    Nov 2018
    Posts
    13

    please pm me. Sorry I have no clue as to what is a "pm". I am completely new to this. Thank you


  3. #23

    Join Date
    Dec 2008
    Location
    -
    Posts
    1,647

    First of all you have to discuss the details of the partnership with your friend such as:
    - who pays for what expenses: building costs, land surveyor, gov application fees, land premiums, bribes for villagers who object the project, profit taxes etc etc
    - who will get what % after houses have been built and approved. Since you are providing land and ding right you should aim for 50% of the revenues. Eg: 2 houses built then you should get one house. Also specify in the contract which house.
    - find an independent lawyer that solely represents you.

    There are so many potential problems and obstacles for village house projects. Be well prepared. I have completed a partnership myself and it gave me many grey hairs.

    Last edited by Drunken Master; 12-11-2018 at 02:35 PM.
    gigglinggal and chuckster007 like this.

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