Legal Question in Business Law in New York
My husband owns a business that he started in 1991. Since then, he has filed bankruptcy twice; after the first one, the business was put in my name. He ran the business poorly, and I was forced to file bankruptcy. The third bankruptcy (second one for my husband) was this year. Again, the business is in my name at this time.
We are not getting along very well, and I'm wondering if I can take over the business since I own it. There is nothing in his name pertaining to this business. I don't trust that he will keep this company from going bankrupt again and I am not willing to take that chance. Our home is in my name only. We have 5 children living here at home, with one of them on life support with nurses here 24/7.
I haven't given a whole lot of information, so if you need any further information, please let me know. I appreciate you taking your time to respond.
Maria Ragonese Thompson
1 Answer from Attorneys
Generally, if the business is in your name and you own it, you may operate the business as you like.
Mike.
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