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bigd43606

Member
What is the name of your state (only U.S. law)? Ohio

I co-own an apartment building, but over the last year due to some personal issues have not been very involved in running. my partner in my LLC has taken over, and invested a large sum of money into the property. He wants to have me taken off the LLC, and given me a paper to sign. It is all his money but the mortgage is in both our names. I don't want to sign it because I would have all the liability but no rights to the assets.

My problem is I bought a house and am closing in three weeks. I need the leases and copies of the checks he used to pay the morgage(from his personal account)this week to get to the underwriter. He say he won't give the. To me until I sign. What can I do? Is this blaackmail? Do I have a right to these things. I have emails with him telling me these things.
 


tranquility

Senior Member
The only way you're going to get resolution in the time frame you want is by him agreeing. You might get an attorney to write a nasty letter describing the damages you might suffer by him not giving you the information you seek, but that would probably be a bluff as it's not clear you would be entitled to all of it.

You have a problem. You should have tried to resolve the LLC issue before you got down to three weeks before closing. Signing up your rights to the LLC will keep you on line for the mortgage, so I agree that would be a dumb thing to do.

Lots of facts would need be known before guessing if you have any "twists" to your partner.
 

bigd43606

Member
This is a bad situation, the lender after pre qualifying me decided they needed these items last minute and gave a week to get them. They also said not to do anthing that would change my financial picture. Which signing it over would do. Since these are documents of the company's buisness am I legally entitled to them.
 

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