California | Business Law
2/23/11, 11:10 am
Legal Question
i want to sale and transfer my 50% ownership of a CA LLC. to my partner who holds 50%
i want to sale and transfer my 50% ownership of a CA LLC. to my partner who holds 50%
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Read More Answered By: Richard Jefferson |
Did you need help with this? |
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Read More Answered By: Bryan Whipple |
Have you agreed on terms? That's step one.
You should look at the LLC's Operating Agreement to see what it says, if anything, about buy-outs and related matters. Maybe there are contractual provisions regarding the duty to buy out, determination of the price, etc.
If the Operating Agreement (or other contracts) are silent on the subject, there is no really easy way to compel a buy-out or set the price, beyond just negotiating it with the other owner. It may be possible to force a liquidation of the business if the co-owners are deadlocked. You may need to consult a business attorney for assistance. |
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