Legal Question in Real Estate Law in Massachusetts
LLC company
I am a50% partner in an LLC company- The operating agreement states that we cannot partition each other nor can we sell ownership without majority or both members agreeing to sell. I want to sell and the partner won't sell and will not buy me out ?
Asked on 2/02/07, 6:17 pm
1 Answer from Attorneys
Re: LLC company
You have the right to sell your interest to a third party. You can also challenge the non-partition provision if there is no right of first refusal or other part of the Operating agreement that deals with a way to transfer your interest to a third party.
Without reading the Operating Agreement it is impossible to give any really substantive advice.
Please feel to contact me if you have further questions.
Answered on 2/04/07, 10:57 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
