Legal Question in Business Law in Massachusetts

proposal

Hi,4 brothers own 3 properties and we want to split them up so we make up a proposal and buy out 1 brother and the other 3 get a property.All 4 signed the proposal along with there father who signed it.Payments have been made to the 1 brother who was bought out $200,000 down and $14,000 a month for 20yrs.Payments started in Jan.07. Now one of the brother who was to get a property doesn't want to do it and wants to change the proposal.The other brothers and the father feel this was a signed contract and we have been paying the other brother so it shows it was excepted by all.Again we all signed it.Would you think this is legaland we can go on with the closing's.Thanks


Asked on 9/30/07, 9:48 pm

2 Answers from Attorneys

Re: proposal

From what you describe, there has been an agreement and the contract has closed. I am unclear as to what closings have not taken place.

Without reading the agreements it is not possible to give a concrete answer. However, it would appear from your description that all agreed and the contract was signed by all the relevant parties.

If you have more questions, please feel free to call me.

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Answered on 9/30/07, 10:04 pm
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Re: proposal

Assuming the contract is enforceable, you can seek to enforce the contract. Unfortunately, you will need to file suit, following a letter of demand. If this is urgent, the suit needs to be filed right away.

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Answered on 9/30/07, 10:07 pm


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