How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask INFOLAWYER Your Own Question
Category: Business Law
Satisfied Customers: 53573
Type Your Business Law Question Here...
INFOLAWYER is online now
A new question is answered every 9 seconds


This answer was rated:

what is your question?
Customer: replied 7 years ago.
I am a 50% shareholder in an s corp. With the other 50% held by one other individual. I want to get out of this arrangement. What are my rights to get out of the s corp.? Can I remove 50% of the assets before the other stackholders takes them all and before any legal remedey is pursued? Thanks.

3 options:
1. sell from one to the other
2. if one cant be done, try to have a third party mediate a solution
3. if one and two cant be done, then one of the parties would commence a lawsuit to force the sale of the property and division of the proceeds. often the threat of such a suit makes options 1 and 2 become more successful as both sides realize that it expensive to litigate.
To find local counsel to represent you, see
Customer: replied 7 years ago.

Can you tell me if I can remove 50% of the assets (mostly Inventory) before taking this to court so that I ensure the assests are available to me when the court hears the case months from now? As I know the other shareholder will remove the inventory once I approach him about leaving the business?

NO. The assets belong to the corporation, not to you and withdrawals should not be done which could subject you to a lawsuit.   
INFOLAWYER and 4 other Business Law Specialists are ready to help you

Related Business Law Questions