P
PODEX
Guest
state of california
I wish to relinquish my half of a small business (restaurant) to my ex-husband who is 50% owner but for the past three years has not been a participant in it's operation or expenses, but demands 50% of the monies from it's sale. I have been trying to sell for three years without success, since the divorce, but he keeps putting limits which makes it impossible for me to negotiate with potential buyers.
I do not wish to continue in this partnership and assume all of the expenses and operation alone any longer.
what do I need to do to give him my half of the business and
hand over all of the liabilities, profits, etc and walk away....without having any legal repercussions. I owe him some money out of my half of the sale of the business, but I'm willing to give him all of it and wash my hands clean and let him keep
whatever profits he can make from it, over and above what I owe him. Can this be done? This is not a corporation ..... just a little mom & pop business, with a lease with the City for space rent.
I wish to relinquish my half of a small business (restaurant) to my ex-husband who is 50% owner but for the past three years has not been a participant in it's operation or expenses, but demands 50% of the monies from it's sale. I have been trying to sell for three years without success, since the divorce, but he keeps putting limits which makes it impossible for me to negotiate with potential buyers.
I do not wish to continue in this partnership and assume all of the expenses and operation alone any longer.
what do I need to do to give him my half of the business and
hand over all of the liabilities, profits, etc and walk away....without having any legal repercussions. I owe him some money out of my half of the sale of the business, but I'm willing to give him all of it and wash my hands clean and let him keep
whatever profits he can make from it, over and above what I owe him. Can this be done? This is not a corporation ..... just a little mom & pop business, with a lease with the City for space rent.