Does a partner become the owner of the other partner/s share in a business upon termination of the other partner/s?

Q. I am in a business partnership. I have decided to terminate my 50% share in the business partnership. What happens to my 50% share of the business partnership? Can I sell it, give it to someone or does my business partner inherit it? Your response will be appreciated.

A. You are the owner of your share. When the partnership ends, you are at liberty to sell your share to your partner at a mutually agreed price. Your partner does not simply own your share without purchasing it from you.

Allah Ta’ala Knows Best

Mufti Ismaeel Bassa