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Jeremy R. Cnudde

Jeremy Cnudde’s Answers

4 total

  • I have lived in a house I am renting with option to buy, for 4 years , my landlord is rushing me to sign a land contract,

    I need to have land contract paperwork looked over, and be advised on any other options I can use to pay off the house, $37,000.00

    Jeremy’s Answer

    To add to the quality comments above, the land contract would likely violate the restrictions in the Mortgage and Loan documents, thus enabling the bank to foreclose, leaving you in the cold. If you were to use a land contract for the purchase, make sure the lender authorizes it in writting.

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  • What are my options after trading in a car for a newer vechicle, having a week, then denied financing?

    was supposed to cosign, after signing papers, was told I was sole owner. Signed different papers 2 days later to get better deal, at the end of the week was told someone over estimated my gross income about 3,000 and they had to find somewhere els...

    Jeremy’s Answer

    You need to reveiw the documents that were signed and see what they say in the event you are unable to obtain reasonable financing. Generally, there should be some contingency acspect that permits you to back out of the deal if the financing falls through. If you back out, you should either receive you old car back, or the fair value of the car in cash. Frankly, I'm surprised they allowed you to take the car without financing in place. Watch for a bait and switch if they seller tries to setup financing at very high interest rates.

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  • Landlord involved himself in business without permission. Action taken to remove him. Now he is locking areas of business rented

    We are behind in rent with his permission. This business has a controlling board that was not aware of his involvement until it came to light.

    Jeremy’s Answer

    You need a lot more information. First, if you and the landlord have an agreement to delay the payment of rent, you need that in writting. Not that I don't trust people, but I prefer to be safe than sorry. Second, the landlord's rights and your rights to access to the building space are, or should be, set forth in detail in a commercial lease. You need a WA attorney to review the lease and then review what the landlord is doing specifically against the business. This is really a real estate / lease issue and possibly a claim for tortious interference with your business.

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  • What are the necessary steps to remove a shareholder and initial board of director member from a C-corp?

    My husband and I divorced in Sept. 2008 and as part of the decree he was awarded the C-corp we created, which is the holding company for the business building which he was also rewarded. We are going to court tomorrow on enforcement issues for wh...

    Jeremy’s Answer

    Technically, you would need to sign the stock certificates and appropriate assignment agreement which would authorize the "Secretary" of the corporation to cancel your shares and issue new stock certificates. However, even though you have not done so, he does have a decree which I am assuming has language that specifies that the stock SHALL be transfered to your husband. Assuming these are the facts (which you should verify) then he would have an option to have a court issue an order allowing him to make the appropriate transfers of stock without needing your signature. Further, just because you did not elect your option to place a lien on the building (which I cannot think of how that would impact your credit rating) that does not mean you do not have options; it just makes it a bit more difficult. If he owes you something under the decree, you need to hire a Texas attorney to get a judgment and seek to enforce it. If its a collection of money you should go after the cash he received on the sale of the stock. Also, if the stock was tranfered for less than fair market value, talk to your lawyer about possible fraudulent transfers - which are transfer intended to high assets from creditors. Selling a business to a family member is a common method to try and "hide" assets. Lastly, you will have to see what the decree said about your role as a director / officer. If it was silent, your husband, as sole shareholder, had the authority to remove you as a director and/or officer.

    Make sure to talk to a Texas lawyer, Texas law is a bit different, but the general comments above should be in the ball park in Texas.

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