Q: I am selling my business to an employee (due to health problems) at a highly discounted amount.. The business is my name
Can I ask for any type of continuing override?
A:
Although I am not up to speed on the current requirements as to when a Realtor can lawfully share commissions with another Realtor without actually being involved in the specific transactions I recommend taking the high road, like that required of Florida lawyers sharing legal fees with associates or other lawyers.
So--rather than possibly violating Florida law--I suggest you consider hiring a lawyer to create a separate agreement--or perhaps amend the by/sell agreement now being considered--to help you solve this issue while at the same time (a) protecting you from liability for any acts or failures to act on the part of your business after you sell it, and (b) to make sure you retain some degree control as long as your business is still active.
Seril L Grossfeld agrees with this answer
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
