Legal Question in Business Law in Arizona
Signing over biz rights....
My husband and I bought a biz during our marriage. He owned 80%/me 20%. at one point we were going to get divorced. I signed over my rights to the company to him. He now owns 100% of the shares. We did not divorce and work the business together- I am dthe VP on the corp papers. Do I have any rights to the business at this point?
1 Answer from Attorneys
Re: Signing over biz rights....
This is really a marital law question, not a business law question.
No proper opinion can be given on your case without knowing all the facts and examining your written agreement. If your agreement was done in contemplation of divorce, and the divorce did not happen, and you continued to work the business as usual, you may have rights to the business. Why not resolve this now with a new written agreement, expressing your agreement as to who owns what, who has what responsibilities, liabilities, etc.?
See an attorney if the business is worth something.
Good luck.
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