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Selling an Interest in a Partnership

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phihan

Junior Member
What is the name of your state? California

I have a commercial property that has 3 equal partners. One wants to sell his 1/3 interest but the other 2 do not. The loan has a 4% penalty if if is sold now.
If the party who wants to sell takes us to court to force the sell, what are the financial and legal impacts?
How will the legal cost be divided? Who is responsible for the loan penalty? Who is responsible for the cost of the new loan?
Thnx
Seeking Answers
 


S

seniorjudge

Guest
phihan said:
What is the name of your state? California

I have a commercial property that has 3 equal partners. One wants to sell his 1/3 interest but the other 2 do not. The loan has a 4% penalty if if is sold now.
If the party who wants to sell takes us to court to force the sell, what are the financial and legal impacts?
How will the legal cost be divided? Who is responsible for the loan penalty? Who is responsible for the cost of the new loan?
Thnx
Seeking Answers
Click to expand...
All of those questions would be answered in the judgment of your lawsuit OR by however y'all settled it.
 
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