Am I free to sell just my share of a business that I own to anyone I choose?
Question Details:
I am a 49% owner in an S Corp. My business partner owns the remaining 51%. I would like to sell my share of the ownership but my partner does not. What happens to the agreement on leases?
Well, absent any writings to the contrary and absent any restrictions in any shareholders agreement, you are free to sell your shares...and keep in mind there are a variety of compliance requirements in you doing so...please contact an attorney of your choice for further discussions. By Grace... Shawn Jackson ESQ. (707) 584-4529 Business Development Attorney EMAIL: Attorneys@CaliforniaBusinessDevelopment.com www.CaliforniaBusinessDevelopmentAttorneys.com www.CaliforniaBusinessDevelopmentCenter.com www.CaliforniaBusinessDevelopmentPlans.com www.CaliforniaBusinessDevelopmentIncubator.com No communication resulting herein shall create an attorney-client relationship unless a separate retainer agreement is signed by attorney and client. The information provided neither is legal advice nor is it conveyed in the course of an attorney-client relationship, but is intended merely as a general overview with regard to the subject matter covered. You should not act upon this information without seeking professional counsel such as any attorney in this office in a subsequent email communication (agreement) and the formation of an attorney client relationship.
