if your a partner on a building,but your name is not on the deed and your partner dies,what can be done?

Question

I was partners in business and on a building we purchaesd for our business, My name was not on the deed for good reason. my business partner died. the company paid the bills for over five years. I now have to fight his family for my half of the building. Is there any one who has been in this same situation that can give me advice on what to do?

Answer 1

you can prove your co-ownership over that building either by testimonial evidence, e.g., an employee of the business, friend, or a witness to the deed who knows of your interest over the building, or by some other documents indicative of such interest,e.g., your partner's written admission of your interest either express or implied, receipts, revenue papers, etc. for sure the partnership must have some sort of accounting papers, e.g. balance sheet, showing that the building is an asset of the partnership. at any rate, a deed is just one of the many ways to prove one's interest or ownership over something. the omission of your name in the deed is not the end of it all. for sure, court does not merely confine itself to a mere deed to make a finding. other than documentary evidence, one's cause may also be proven by way of testimonial or real evidence.

you can also verify your partnership agreement. in most cases, the same may be availed of as a basis of inference of your interest over that building.

at any rate, better consult a lawyer before you act on this matter.

good luck!

Answer 2

My advice is to assemble all of the documents you have on the business and see a lawyer who practices in the area of corporations immediately.

I can assure you this will not be settled without a lawsuit.

What you need to prove generally is three things.

1. That the Partnership existed legally.
2. That the building was Partnership property.
3. What happens to the deceased Partner's share. If you can't prove this, the default is that the deceased Partner's heirs get their share.

The name on the deed is not the beginning and end, unless you present no evidence to refute it.

What will likely be the most persuasive is where the purchase money came from. I suspect that since this is commercial property that you put a minimum of 20% down. Where'd that come from? If you can produce a Partnership check, or at least a personal check for half, you should be good. If the deceased Partner wrote the check, you may be screwed.

Answer 3

Obviously, this is not a simple case. The exact requirement will depend on where you are located and will almost certainly require the assistance of an attorney. If you do not hire an attorney, the other side will and you will probably lose even if you are in the right.

Basically, the bottom line of the case is that you will have to prove that there was a partnership and that the building was purchased with partnership funds with the intent that it was to be the property of the partnership. If you can prove that, the court will impose a "constructive trust" on the property which means that, while title will still belong to the family, you will receive your share of income and your proper share of control over what should be done with the building.

Answer 4

u nead some kind of proof like a reciept or letter or anything showing u payed for half. when u have this call a lawer and it will be easy winning the case.