Legal Question in Business Law in New Jersey

There is no simple "out-of-the-box" answer for this. It depends on all the facts and circumstances. If this is a general partnership, this is considered dissolved when one of the partners announces that they no longer are apart of it. But how that impacts the division of assets, etc. is entirely another question. If this is an LLC, then that changes things.

I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

There are two types of partnerships: registered (in NJ also known as limited partnerships) and un-registered (known as general partnerships). The method of dissolution for either one involves different considerations and somewhat different steps.

Your best bet is to have at least one consultation with an attorney to figure out your status and at least outline the steps that need to be taken. My consultation rates are low and flat so there are no surprises. Please contact me directly.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.