Legal Question in Business Law in Massachusetts

Re: two shareholders wish to sell

It is possible, but depends on relative ownership. It also depends on whether you have a Shareholder's agreement.

I suggest you contact an attorney as soon as possible regarding this matter.

I regularly represent closely held companies and their shareholders.

Please feel free to contact me without obligation.

Re: two shareholders wish to sell

Likely there are provisions in the corporate documents (articles, by-laws, stockholders' agreement) that address this kind of situation. The default provision under the new corporation law is that a 2/3 majority can approve the sale, and the minority dissident stockholder would have appraisal rights if he deems the price unfair.

You should bring your corporate documents to a lawyer for an evaluation of your rights.

Best wishes,

LDWG

Re: two shareholders wish to sell

I agree with both.

You may be able to force a sale of the property. If the 3rd party is unwilling, and the corporate documents are unclear about this, you can file an action is court seeking this remedy.