Partners purchasing the share of a partner

Q: There are 3 partners in a business (2 active and 1 silent). The one active partner wishes to exit the business. The share will be paid off through the business over a period of time, not any external funds.

Will it be permissible for the 2 remaining partners to mutually agree that the share of the exiting partner will be purchased only by the active partner or is it compulsory for both partners to purchase this share equally?

A: Both ways are permissible.

And Allah Ta'ala (الله تعالى) knows best.

(وكل) من شركاء الملك (أجنبي) في الامتناع عن تصرف مضر (في مال صاحبه) لعدم تضمنها الوكالة (فصح له بيع حصته ولو من غير شريكه بلا إذن إلا في صورة الخلط) (رد المحتار 4/ 300)

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)