There is a shareholder in my company decided to start up a new company that is a total reflection of my company. However he did not disclose this company, I found out my accident in social media.
That’s a very interesting question. A partner in a partnership has a fiduciary duty that would be breached by that sort of act, but generally shareholders of a corporation
do not owe each other that sort of fiduciary duty. However, in some states the shareholders in closely held... Read more »
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Your question leaves out a lot of information that a lawyer will need to give you definitive advice, but the first thing that comes to mind as something that may meet your goals is a transfer-on-death deed.
I am joint owner of a house in Indiana via a quit claim deed that states "joint tenants with rights of survivorship". The other joint owner who is my grandma is now in a nursing home and has severe dementia. My aunt took power of attorney over her healthcare and has filed a lawsuit against me in my... Read more »
If the deed is to you and your grandmother as joint tenants with right to survivorship, you own half of the property (the house and lot) and your grandmother owns half of the property. That's called an undivided interest because each of you has equal rights to the entire property. Indiana law... Read more »
We have overpaid the contractual asking price. The seller has taken out an extra mortgage on house. Is threatening to kick us out, If we don't keep paying her. How do we proceed with this and what rights do we have? Contract is signed buy us and the seller and is notarized.
You should consult an attorney for advice on exactly how you want to proceed, but I can give you some general information about this type of case and some of the options you may have. Let's take it a step at a time.
First, to kick you out the seller will need a court order. To do get a... Read more »
I signed a 5 year lease, my landlady is a friend. But if anything needs fixed she sends her son, who by the way is not licensed to do any of it. He usually will show up very late around 8 PM or later to fix things. I get up at 3 AM to go to work each day mind you. Some things that need fixed are... Read more »
I sometimes tell my business clients that they need a lawyer, an accountant, an insurance broker, and maybe a banker and that they should never trust one of them to do the job of another. I tell them I can't tell them what insurance policy to buy, and they shouldn't get their legal advice from... Read more »
My mother signed a land contract 12/5/2015 to purchase a certain property for $50,000. The contract is now completed, all monies have been paid and she is seeking the deed. Recently my mother has accepted an offer on the sale of the home. She called the seller at this time asking him to meet her at... Read more »
I'm not sure this is a matter for law enforcement. This sounds more like a civil matter than criminal fraud. There might or might not be a civil tort claim for fraud, but the fact that the seller had a lawyer contact your mother makes this sound more like a case of "seller's remorse" than fraud.... Read more »
Are these documents valid in court and am I still considered a legal partner?
To find out if the documents you've signed are valid and actually make you a member of the LLC or give you any interest in the LLC, you'll need to consult an Illinois business law attorney who will need to see the documents. However, no documents need to be filed with the IRS to create a limited... Read more »
A company called Aftermath, INC. contacted me saying we cannot use the word "aftermath" for my LLC. My LLC is called "Aftermath Cleanup Unit."They said they trademarked the word Aftermath. Is this possible? If so why did the Secretary of State grant me a business license with my company name?
Your question involves two different issues: trademarks and the names of entities.
First, let's talk about trademark rights. The essence of a trademark is to identify the source of goods or services. Trademark infringement occurs when one mark used in connection with goods or services... Read more »
I use my own car and am paid 1099 in my own name. In case of an issue during the serve or an auto accident while working I want to protect my family, house, cars etc from litigation/responsibility.
As an Indiana attorney, I'm not familiar with Illinois rules governing process servers, so I can't tell you if there are any specific provisions of those rules that might affect the answer to your question. But I can answer your question as a general matter.
As long as the LLC is properly... Read more »
You're probably talking about a so-called "living trust" which is revocable by the grantor until the grantor's death and then converts to an irrevocable trust. The answer to your question depends on the language of the trust instrument, probably called a declaration of trust or a trust agreement.... Read more »
Even when my clients are buying a house for cash, I advise them to use a closing or settlement agent to handle the closing to make sure everything is done correctly, and I also advise them to obtain an owner's title insurance policy, which will likely require a survey to be performed. The usual... Read more »
We had a contract to sell our house. She didn't qualify for a loan. 2 weeks later she buys an even more expensive house. Can she legally withhold financial information to prevent the sale from proceeding?
If I understand correctly, you are a bit suspicious that the buyer may not have disclosed all of her financial information in applying for a loan precisly so she would not qualify and therefore could get out of the purchase agreement. A couple of thoughts....
Most purchase agreements that... Read more »
It was signed 2 days ago. Have already asked buyer if they would reconsider. As of right now it doesn't look like they will.
This answer may be a bit late but. . . . based only on the facts you've given, and assuming the contract is valid and created a binding obligation for you to sell, it seems you have to possibilities: (1) Go through with the sale. (2) Try to negotiate a resolution with the buyer which will likely... Read more »
They had just signed an 18 mo. lease (2nd lease) and then lied about accepting a job offer in DC and it would create a hardship if they couldn't get out of the lease. I just found out they never moved and just wanted out of the lease. Am I stuck without recourse?
Based only on the facts you've given, it appears that you likely have a claim against the former tenants for fraud. I recommend you see an attorney to discuss the facts in more detail and to discuss the remedies you might have available to you. Take a copy of the lease with you and copies of any... Read more »
Possibly. The Internal Revenue Code imposes liability for the failure to collect and pay withholding on "responsible persons." Responsible persons can include officers, directors, shareholders, and others. The test is not really the person's title but whether the he or she had a duty to account... Read more »
Sure. The only reason I can think of that might prohibit it is if one or both of them are franchises, and the franchise agreement prohibits you from owning a competing business -- but even that seems unlikely in your example of a hardware store and a cabinet store.
I have several emails discussing that we took over the house and that the seller would write an agreement. This never happen and now she wants to change the agreement after we have paid on it for 2 years. Can I stop her from doing this?
I agree with Mr. Snyderman. In addition to the question of whether the email messages contain enough documentation of the essential terms, there can also be a question of whether the email messages are "signed."
However, the situation that you describe presents a slightly different... Read more »
Yes. If land is owned jointly by two people (whether it's as joint tenants or tenants in common), each owner has the right to full use of the land. However, if the property is leased, each owner should get half the rent, regardless of which owner made the lease. And if there is a disagreement... Read more »
I assume nothing has been done so far and the house is still entirely in the husband's name. In that case, if the husband dies, the house will pass to his heirs either under his will, if he has one. If dies without a will, the house will pass to his heirs according to the rules of intestate... Read more »
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