Lake Oswego, OR asked in Business Law and Divorce for Oregon

Q: What documents need to be signed if one of the spouses sells their interest in the business during divorce?

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1 Lawyer Answer
Howard Alan Newman MBA
Howard Alan Newman MBA
  • Portland, OR
  • Licensed in Oregon

A: As is sometimes typical with these questions, there are insufficient facts to fully answer the question. Regardless of any divorce proceeding, i.e., in a vacuum, should any entity or person, including a spouse, who has an interest in any type of entity wish to divest said interest, the seller and the receiver of the interest should draft an appropriate instrument that factors and tracks the governing documents of said entity. Though I do not practice in divorce law (though I have been used during divorces when dealing with commercial transactions), I suspect that the spouse divesting said interest would want input from the other spouse, especially since a property settlement would need to be negotiated and obtain judicial approval.

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