2006-11-08 00:03:00 · 15 answers · asked by Bob 2 in Family & Relationships ➔ Marriage & Divorce
You need a lawyer and you need one now. Not enough info to tell you anything else but that.
2006-11-08 00:05:51 · answer #1 · answered by NolaDawn 5 · 0⤊ 0⤋
I do not believe that either the wife or the husband can force the sell of the business. I believe it would be like a partnership that has broken up, 1 partner can buy the other out or the business will be sold and the proceeeds divided according to the divorce agreement. Since do not know the reason for the divorce, nor the state you live in, this is very vague. You need to talk with your attorney asap.
2006-11-08 08:22:47 · answer #2 · answered by bettyswestbrook 4 · 0⤊ 0⤋
In some states, if the business was built or puchased together, or during the marriage, then it is "marital property" and you are each entitled to half of everything and if the only way she can take her half is to sell the business then that is what has to be done. If it comes down to it, she may just let you buy out her half.
2006-11-08 08:09:33 · answer #3 · answered by krystal s 3 · 0⤊ 0⤋
I had to sign an agreement drawn up by lawyers when my hubby took part ownership of his family's business saying that I absolutely no say in anything and no rights to the business whatsoever. I'm not sure in your situation though, maybe talk to your lawyer.
2006-11-08 12:36:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
they can ask for half the value of the business and you may have to sell it to get half
best idea is to transfer all the clients to a new company and start over again leaving the worthless shell to be split up
2006-11-08 08:07:43 · answer #5 · answered by mohamed jihad dirka dirka 2 · 0⤊ 0⤋
She is entitled to half of the value of the business. If he is unable to pay her the worth of that half...then the courts can demand that the business be sold and the profits divided. But, he has the right to pay you your half and keep the business.
2006-11-08 09:32:19 · answer #6 · answered by lildragonlexi 4 · 0⤊ 0⤋
Not exactly...
She can make him give her a fair portion of it either by
monthly profit sharing or taking out a mortgage / loan on
the business and buying her out in cash..
You need to see a lawyer..
2006-11-08 08:55:12 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I don't think the wife herself can do that. but if there are attorneys and a judge involved, they might have it done as part of the settlement.She can ask for the $$ as part of the settlement.
2006-11-08 08:07:24 · answer #8 · answered by angeleyes 4 · 0⤊ 0⤋
You can stay partners or one of you will have to sell your half to the other. You keep the business but pay her for her half or she keep it and she pay you for your half.
2006-11-08 08:08:30 · answer #9 · answered by tinymight78 2 · 0⤊ 0⤋
Not necessarily sell it, but he may have to buy out her share if he wants to keep it and she doesn't.
If he can't afford to do that, then he may have to sell it.
2006-11-08 08:06:18 · answer #10 · answered by ? 6 · 1⤊ 0⤋