What are my options if I own a business with my ex-husband and I want to get out?

We’re incorporated 50/50 partnership.

Asked on August 31, 2013 under Business Law, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Well that would depend on the facts of your case.  The terms of your partnership agreement will govern if in fact it addresses the issue.  It may say something like if one party wishes to dissolve the partnership (which you would need to do legally) or sell his or her portion of the business, etc.  You may have to give him the right of first refusal to buy you out.  I would take the agreement to an attorney to review and let you know your options.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.