Legal Question in Business Law in California

My thoughts are what is the value of the partnership and what is the bale of that share? The partner can't be unjustly enriched and not get an upgraded building for nothing.

I'm not so sure this is really a "legal" question in that you are free to negotiate a buy out that makes sense in context. I assume that you each contributed equally to those upgrades. The key question is whether they add value to the business, which should be reflected in the buy out? If yes, they it makes sense that they are considered; if not, then why should one partner be unjustly enriched as my colleague noted.

Make sure you get some legal help on the transfer agreement. If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Kind regards,

Frank

www.LanternLegal.com

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DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

I agree with Frank. I am not clear on whether the partnership owns the leased building, or simply leases it and put money into the TI's. In either event the question is an ecomonic one, and will depend on the parties agreement. Presumably one "partner" will use the improvements while both paid for them. What do the parties feel is fair?