Legal Question in Wills and Trusts in New York
Husband has a company, in which he is gifting 100 percent of the shares to me when he dies. Problem is ...all documents needed to sell business are stored in his sons office that I have not spoke to in years and no he will not release. What happens legally when I choose to sell?
Asked on 7/14/15, 5:23 am
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
As the sole shareholder, you can elect officers and directors (unless there is some written agreement that restricts this). As the sole owner, once new officers and directors are elected, they can approve a sale and sign the documents necessary to carry it out. Also, if necessary, you can go into court and obtain an Order requiring the son to turn over to you all corporate records in his possession.
Answered on 7/14/15, 9:31 am
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