V
vw17
Guest
I own a business in PA. Back about 15 years ago the shareholders purchased a building with the companies money. But the building was titled to the newly formed partnership. The partners never paid for the building with any personal money. Due to the finacial difficult, one of the shareholders of the company left. Company can not afford to pay the buy out agreement and has been sued. The company contends that the real estate was purchased strictly for the benefit of the company, and was paid for with its money. Can the company sue the real estate partnership for the title of the building, since the building was soley used for the company and paid for with the companies money? and with no personal money of any of its partners. Company contends that the building should be its asset not the partnership. (note. initial real estate loan could not be obtained with out the companies co-signiture on the loans) Need some case law and help. Please!!!!!