Legal Question in Real Estate Law in Tennessee

If have a partnership on a family farm and my partner makes an offer to buy my half, does their offer to buy also constitute their willingness to sell for the amount of the offer and are they REQUIRED to sell for that amount?


Asked on 9/15/14, 8:23 am

1 Answer from Attorneys
Dan Scott Scott Law Group, PC

The offer made is governed by the specific terms of the offer and if you have one, the specific terms of the partnership agreement. In many partnership agreements there are buy-sell provisions which may make any offer to purchase and offer to sell at the same price.

However, if you don't have that sort of provision in the written partnership agreement then the offer made is governed solely by the offer.

Hope this is helpful.

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Answered on 9/16/14, 3:00 am


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