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West Tennessee | You're right Calvin and I recommend that process pretty often. Sorry about your friend though. I missed out on your math on the tractor there though. :-)
We call them a buy or sell agreement. I find it hard sometimes to get people to actually do it because they quickly realize there isn't any way to cheat or have an advantage. The only person with even the remotest edge is the person who decides the price. Even then the deal cuts really hard both ways and is tough for it not to be fair. The only exception would be if one party doesn't have the ability to buy. Even then they can find a buyer or backer behind the scenes and preserve their position. Lawyers usually HATE for me to bring up this option to dividing parties because it has the ability to bring the court proceedings to an end quickly. They will almost always recommend their clients stay in court. :-) | |
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Dividing or selling assets of a partnership
