Legal Question in Real Estate Law in Minnesota
does my husbands shares in his business become mine when he dies ?
my husband is part owner of a hotel with three others. They each own 1/4 of the business. One of the partners wants to buy out the other three partners. I am not an owner. If my husband dies will his shares automatically be turned over to me or is there a form he needs to file to make me heir to his shares of this business and property?
1 Answer from Attorneys
Re: does my husbands shares in his business become mine when he dies ?
Is your husband the one buying out the others? I infer this because you ask how his share will pass on his death (presumably after the close of the purchase). Or are you asking how his share of the sale proceeds will pass?
In any event, more details are needed for an answer, which may be that you need an attorney to review the situation in more detail and give advice tailored to your situation.
Please e-mail me if you'd like to discuss it further.
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