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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 111680
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I am no longer a partner in a business, the co applied loan

Customer Question

I am no longer a partner in a business, the co applied for a loan and the bank wants to see where I sold my stock to new partner what do I need to do
JA: Have you talked to a lawyer yet?
Customer: Nope
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Customer: No it's fairly simple
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Submitted: 5 months ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You would need to show the bank that you are no longer a partner with proof of the sale to the new partner. The business should have that proof in their files. If not, you need to show the bank the proof you sold your interest to a new partner as they asked.