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Changing a business partnership

Asked over 2 years ago - Spokane, WA

My sister and I have a small business partnership. I was married when the partnership was formed and since divorced. My ex husband asked for no part of the business in the divorce settlement. I have since remarried. I would like to have my ex husband's name removed from the partnership. I would also like to have my new husband added and a name change to my new last name. What do I need to do?

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Attorney answers (1)

Jeffrey Edward Burkhart

Reputation Level 9

Answered over 2 years ago. Business Attorney in Walla Walla, WA.

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The basic answer is: Depends on what your agreement says.

If it's a partnership, you probably have a document called "Partnership Agreement." If it's and LLC, it's called "Operating Agreement." The agreement will have procedures for removing partners or members. Sometimes these provisions are harsh, even requiring dissolution of the entity.

(If you do not have a written agreement, then the default rules of state law will apply.)

Disclaimer: This answer does not create an attorney-client relationship. You must not rely on it for legal advice. The answer might be different if more facts and details were known. Procedures and standards vary for each individual case.

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