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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 41221
Experience:  Run my own successful business/contract law practice.
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Also theres a clause in our operating agreement that we could

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Also there's a clause in our operating agreement that we could apply for a judicial dissolution in case we can't agree or run the business together. Can we force the sale of the property through this process? What would be the cost for a judicial dissolution and how long would it take in the state of California?
Thank you for your question and thank you most kindly for requesting me to assist you with your concerns.

You asked:

Also there's a clause in our operating agreement that we could apply for a judicial dissolution in case we can't agree or run the business together. Can we force the sale of the property through this process?
Yes, you can. If all else fails, this is the so-called 'nuclear' option that would permit either party to go to the judge and request that he order the county sheriff to sell the property at auction. It is something that both of you may want to avoid since the cost you may obtain at auction could be far less than market value.

What would be the cost for a judicial dissolution and how long would it take in the state of California?
The process for the courts may take 6 months in the best of circumstances, and potentially another 3-4 months for the auction. If they do not challenge it then costs may be low but if they do, likely $12,000 or more would be a very safe and conservative estimate.

Good luck.

Sincerely,

Dimitry, Esq.
Customer: replied 3 years ago.

I didn't know that we would get far less than the market value. In that case, judicial dissolution doesn't make any sense.


 


Since my partner has deeper pockets than I do, he may refuse to open the business and expect me to continue to contribute towards monthly expeses till I get broke!


Can you think of any other options for me?

Thank you for your follow-up. My apologies on the delay, I was offline.

 

The best option is always negotiation if at all possible, but I really have no other options other than what I suggested. I do apologize but I believe the true options were all described at this point.

 

Good luck!

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