Legal Question in Real Estate Law in California

My three siblings and I have a family trust partnership where each of us own 25% of the land and building. Two of my siblings own a beverage distributorship company that is located on the property we all share. We all receive rental income distributions monthly, and two of us (who do not own the other business) have come to depend on. Two of the brothers are going to sell the beverage business, but the deal is contingent on buying the property/building as part of the deal. The other two of us were not consulted, and it will greatly affect our livelihoods for the next 10 plus years (900K + in lost rental income, plus future increase in property value selling 10 years or more from now). The brother who runs the business is only 57 (we thought he would work until full retirement age before selling). He plans to continue running the business but will have a minority interest after the sale. What legal recourse do I and my other brother (who is not part of the beer business) have? This transaction was sprung this on us without any consideration for our needs and it is planning to close in late September? The business is in Iowa, I live in California.


Asked on 8/27/18, 6:45 pm

1 Answer from Attorneys

If the business and the property are in Iowa, we California lawyers cannot help you. You need to re-post your question and designate the location of the question as Iowa.

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Answered on 8/27/18, 7:11 pm


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