Legal Question in Business Law in New Jersey

Partner buyout

My brother and I own a building which we rent out and has a guaranteed payment by my fathers company which we both work for. I am leaving the family business and want to know how I get my portion of the building and get my name off the loan and LLC company


Asked on 4/30/07, 3:16 pm

2 Answers from Attorneys
Glenn Brown Real World Law, P.C.

Re: Partner buyout

Well first you retain a good business attorney.

Your attorney will review the LLC documents, the loan agreement and the agreement with your brother covering ownership of the building.

Then after discussion with you of your objectives, a plan will be developed to accomplish your goals.

If we can help let us know. Services at an affordable fee.

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Answered on 4/30/07, 3:24 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: Partner buyout

I agree with Mr. Brown. While you can technically do this by yourself, you wouldn't be asking this question if you knew how to do it. Thus, I strongly suggest you get an attorney. I can refer you to one if you would like.

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Answered on 4/30/07, 4:06 pm


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