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business partner died

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RJean54

Guest
What is the name of your state? NC
I have been working with a partner for 2 years, have invested $19,000 and taken no salary.
My involvement was with a DBA, part of a corp. registered as a Personal Consulting business. (C Corp.)
My partner was in an accident and died. The estimated debt is $75,000 and estimated equity is $10,000.
What happens to a company when the only named officer dies? What do I offer the widow to buy the company? Can I put a lien on the company for the cash money I had put in?
 


L

loku

Guest
Your rights depend on the type of entity this was. You say “My involvement was with a DBA, part of a corp. registered as a Personal Consulting business. (C Corp.)” I don’t understand. Was this a corporation? And do you own stock? Or was it a partnership with you as a partner? Or did you simply make a loan to the business?
 

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