I am in a partnership with several family members and do not wish to be. One admitted to stealing from us and finally payed some of it back. I don't trust them. We own two real estate properties and approximately 160k in stock and that is it. We receive rental income on one property. Other than that, we have no business to transact. We own the properties free and clear. What can I do?
(Assuming this is an actual partnership) You are free to sell your interest in the partnership. However, if there is a partnership agreement, the terms of that agreement may restrict your ability to sell it or otherwise assign or transfer it. Based on your post, you may have other actions you can take against the other partners.
It's very rare to see actual general partnerships nowadays / I'm assuming that you are part of a Limited Partnership or an LLC. In either case, the terms of the governing document (Partnership Agmt or LLC Operating Agmt) will control your rights to sell or transfer your interest.
You should locate copy of the agreement and then consult with an experienced LLC/ Business Law attorney to get advice on your rights and options.
Posting of this answer does not create an attorney-client relationship. This posting is intended to provide general information only, and not to provide any specific legal advice. You should not rely on any information in this posting without seeking the advice of an attorney, who can address your specific legal situation.
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