Very limited partnership agreement

[mom53]

What is the name of your state? WA and MN
2 non-related people (A&B) want a partnership to buy rental property in either state. One party (B) is invoved in an non-ending dissolution in WA state with spouse (C). Is there anyway to set up a partnership for (A and B)to buy real-estate in either state, without spouse (C) getting his fingers into the $$. Spouse C will not divorce. A&B have given up waiting for the non-ending divorce.
If a partnership is not an option, can A&B make some kind of business agrrangement between themseves through a contract????

 

[divgradcurl]

What is the name of your state? WA and MN
2 non-related people (A&B) want a partnership to buy rental property in either state. One party (B) is invoved in an non-ending dissolution in WA state with spouse (C). Is there anyway to set up a partnership for (A and B)to buy real-estate in either state, without spouse (C) getting his fingers into the $$. Spouse C will not divorce. A&B have given up waiting for the non-ending divorce.
If a partnership is not an option, can A&B make some kind of business agrrangement between themseves through a contract????

There may be a way to structure a business in such a way, but it will not be a partnership, that's for sure, and it may not even be possible. Since WA is a community-property state, unless party B has some source of non-community funds to invest in the business, B's spouse will automatically have some ownership interest in B's share of the business, no matter how you structure it. Further, even if B has separate property assets to invest, if B spends his or her time on the business, B's spouse could also end up with some ownership interest. There just isn't really any way around it -- that's just the nature of community property.

Now, if B has a non-community source of funds to invest, invests it in some sort of corporation with you, and then you do all of the work, and B just gets dividends or whatever, THEN it may be possible to arrange the business organization so that B's spouse has no interest in the business, now or in the future. However, if B uses any of his or her time to run or operate the business, or uses any community funds to invest in the business, then B's spouse will be involved, like it or not.

You should talk with a WA attorney to see if there is some way to structure your business organization to keep B's spouse out -- but it may be impossible, so you'll need to decide if you want B's spouse involved or not.