Legal Question in Business Law in Texas
If my husband starts a company with someone else (owns 50%)and he decides to sell his share of the company do I have any rights. When he told me he was "thinking" about selling he gave me papers to sign and I refused. So they drew up more papers without my name on them. It was sold for a VERY unreasonal amount of money?
1 Answer from Attorneys
The husband's interest in the company was his "sole management" community property, and he has the right to sell it.
YOU now have the right to sue him for divorce and allege that he failed to act reasonably in the way he sold something that is 50% yours - that is, that he sold a $100,000 item for $5000. But you have to urge your rights (in this situation) in connection with a divorce action.
It's called a "fraud upon the community." You need a good divorce lawyer.
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