Legal Question in Business Law in Colorado

I am sorry about the problems. The key issue is whether there was an agreement for him to be a 50/50 partner. It does not matter if this was not in writing as an oral agreement is just as binding as a written agreement. So, was there ever an agreement that he was 50/50? As to his claim, what proof does he have to support that there was a 50/50 agreement?

In the end, regardless of his claims that he may be 50/50 that does not impact your rights to the business property. If this was purchased by you or was otherwise related to the business partnership, you have the right to that property. If he continues to refuse to return it, your attorney can file or can help you file a replevin action in court to get this back. Legally, he has no right to just hold the property hostage based on his claims. Moreover, even if he was found to be a 50/50 partner he has no right to get what "he thinks he is owed" unless you two had an agreement that provided that on termination of the venture the other partner must repay the other what they think they are owed.

You need to contact an attorney today on this matter. Most attorneys, like our office, provide a free phone consultation to discuss the issues.