gets more confusing

[faithnlve]

What is the name of your state? Vt...ok....here I am again..still confused as ever...lol. I withdrew my partnership from an LLC on Nov 06 of this year with two clauses. 1. I Owe nothing to the business...and 2. To take me off lease of building, and pay me for the hours due me for work. I am not off the lease yet, but, I have been paid for my hours worked. Now, does the withdrawing myself as a partner void out my right of them owing me still the 25% gain of company during the 6 months I helped them to get it going? Thanks

 

[divgradcurl]

What is the name of your state? Vt...ok....here I am again..still confused as ever...lol. I withdrew my partnership from an LLC on Nov 06 of this year with two clauses. 1. I Owe nothing to the business...and 2. To take me off lease of building, and pay me for the hours due me for work. I am not off the lease yet, but, I have been paid for my hours worked. Now, does the withdrawing myself as a partner void out my right of them owing me still the 25% gain of company during the 6 months I helped them to get it going? Thanks

Well, it would depend on what the exact agreements you have with the other members of the LLC, but generally, the 25% gain in the value of the company should have been reflected in the price paid for your "share" of the company.

From your other post, you are working with an attorney -- presumably that attorney has a knowledge of all of the agreements in place, what does your attorney say about this?

EDIT: In other words, if the company is "worth" 25% more than when you first invested, all that means is that each "share" is worth 25% more than when you first invested, and to get your part of the increase in value, you should have sold your interest for 25% more than what you originally paid for it in order to receive your share of the "gain."