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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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#1 |
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Junior Member
Last Online:
Mar 31st, 2008 05:49 AM Join Date: Mar 2008
Location: utah
Posts: 1
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I am the Exceutor if my late husbands estate . We are partners in his family investments.. We are limited partners. All of our money was put into the real estate/properties investment partnership ..they dont want to buy me out and will not consider desolving it . but its my duty to pay the debts of my late husbands estate ... My house is in forclosure ..because they wont work with me..
Does the exceutor of an estate have the power to desolve a limited partnership in order to pay off estates debts? |
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#2 |
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Posts: n/a
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If two or more owners or partners cannot agree on what to do with a corporation, partnership or any other property, they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the corporation and/or the other(s) may keep it etc.--it is often done-- (This is true in some cases even for equitable owners that have paid various amounts etc., but for various reasons, may not be listed as an owner or shareholder.) You could threaten to take this action if need be. It may cause compromise which is of course what you need here now. Also check your papers for any agreed dissolution procedures that may already exist. World Law's lawyers could also probably intervene and help resolve this if need be. You may email them on the home page.
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