I live in Rhode Island and own 1/2 a farm in Puerto Rico. My partner offered to buy me out for an agreed upon fee. In good faith, I turned over full financial control to him in June. I have yet to sign over the title because he has yet to pay me any money. Is there a way to force him to pay me or force him to sell the farm and split the proceeds?
Since the farm is located in Puerto Rico, it will likely governed by the law there. Puerto Rico is a civil code jurisdiction - unlike the common law jurisdiction of the states (except for Louisiana).
Here, depending on how the farm is titled, you could either file an action in partition (if the farm is in your individual names) or you could file an action to wind down and liquidate the business or a distressed shareholder suit if the farm is titled in the name of the business entity. Of course, if you have a shareholder agreement, that would spell out your rights.
I am not an attorney of Puerto Rico, laws vary from state to state (and territory), therefore you should always consult a local attorney.
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In Rhode Island there is a way to force a sale. I assume there is also one in Puerto Rico. You should hire an attorney there and consider immediately revoking the financial power of attorney you granted your partner. One step in doing that is sending him a letter revoking his authority and consider sending a one to anyone he may be dealing with regarding the property telling them he is no longer acting under your authority.
I am giving you general information about the law. To give you legal advice I would first have to learn more about the facts and circumstances of your particular situation. (401) 383-7550 or email@example.com I am not your attorney and I am not giving legal advice. The Rhode Island Supreme Court licenses all lawyers in the general practice of law. The court does not license or certify any lawyer as an expert or specialist in any particular field of practice.