Legal Question in Real Estate Law in Virginia
sale of stock in restaurant
i have a buyer to purchase my stock in my restaurant. landlord will reassign the lease, but my husband will not sign off and he has been absent about 3 mos. i do not want to give him any of the money from buyer as i paid for the entire restaurant 4 yrs ago. what can be done. we want to finalize in 30 days.
1 Answer from Attorneys
Re: sale of stock in restaurant
No good solution here(at least in my opinion), given your particular situation. Your prospective buyer is not going to want to go through with the purchase of the restaurant stock for which your husband has not signed off on and for which he may later assert a claim arising from the marital relationship.
Unless you can clearly establish sole ownership of the stock/restaurant either through a formal property settlement agreement (PSA)or through
the equitable distribution process in connection with a pending divorce, it is unlikely that you will be able to find a purchaser willing to go forward with this transaction in which your husband apparently refuses to be a party.
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