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Family Limited Partnership

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jjohnson31

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

If a family member is a limited partner in a family partership and he wants to sell his interest to the other family members, is he entitled to a fair market value for his shares? or just what the other partners are willing to give him.

Also at the end of the term of the partnership is the general partner allowed to continue the partnership with what ever terms he wants and buy out any limited partner that does not agree with new terms of a new partnership?
 



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