Memphis, TN asked in Real Estate Law for Tennessee

Q: I and another person brought property together. We were together now we are apart. Both names are on the three propertie

How can we settle this without seeking an attorney, or with an attorney. But I want them to pay me and have my name removed from the properties list. We started a business together. I want out. What would be the best process to do?

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1 Lawyer Answer
Bennett James Wills
Bennett James Wills
  • Brentwood, TN
  • Licensed in Tennessee

A: Depends on how the properties are held. If the properties are purchased with a business entity, you may need to dissolve the business and liquidate assets. If the properties are just held jointly, then you may need to file an action to partition (sell) the properties. You can certainly try to reach an agreement with the other person to buy you out, but often these issues take a lawsuit to resolve. Consult counsel to determine your options.

Anthony M. Avery and Peter J. Weinman agree with this answer

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