bobmccann5@yahoo.com wrote:
Hi all.
Long ago, I entered into a buy-sell agreement with my business partner.
Before he died, my business partner agreed to dissolve the buy-sell
agreement, but we never executed a written agreement.
His wife (the sole beneficiary of the estate) was aware of the
agreement and has agreed to dissolve the agreement in writing. I have
a boiler plate termination agreement to dissolve the buy-sell
agreement, but I don't know who the agreement should be made between.
Is it between myself and the wife? Is it between myself and the estate?
Discuss the issue with the executor of your partner's estate. What you
do depends upon the, uh, state of the estate.
Also, are there any other potential issues I should worry about?
If you are offering fair market for the value of your partner's share, I
doubt there will be any issues standing in your way. If the wife gives
consent, and there aren't any value issues, there isn't anything or
anybody to object or stall the proceedings.
-paul
ianal
