Denver, CO asked in Business Formation for Colorado

Q: If I own a business with my husband (partnership) and I want out of the business can I sell my half w/o consent

Nothing was signed or stated prior discussing anything about selling the business. And if I can legally sell my part of the business w/o his consent would I then have to give him half of the money I sold it for if we got a divorce - were in Colorado

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1 Lawyer Answer
D. Mathew Blackburn
D. Mathew Blackburn
Answered
  • Englewood, CO
  • Licensed in Colorado

A: Technically you could sell your ownership interest as there is no restriction because there is no operating agreement.

Colorado is an equitable separation state so it's not automatically 50/50,but yes the cash or the ownership of the entity would both be marital property subject to division by the court.

I would suggest retaining an attorney, or two there's a lot of nuance in divorce and business sales. There are likely other factors that you shouldn't discuss on a public forum.

There may be a better way to structure your exit from the business and the marriage.

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