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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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I am in the middle of a partnership dissolution. We have

Customer Question

Hi, I am in the middle of a partnership dissolution. We have a shop that is in my partners name. This property was supposed to be transferred to the company 10 years ago at an agreed price of $70000. The partner was to take the money out of the company but never did because he was waiting for a good time for him tax wise. We never had an a legal agreement in place, and now he wants to charge back rent for the ten years. Can he do this?
Thanks for your help.
Submitted: 1 year ago.
Category: Canada Law
Expert:  Tom B. replied 1 year ago.
Hi
There is a lot of difference between a partnership and a company. You use both terms.
Is this a company where you own shares or a partnership?
Who was supposed to pay $70K for the land and was it paid?
Where does back rent come from?
Cheers,
Tom
Customer: replied 1 year ago.
It is a limited company where we are 50 / 50 voting shares. the company was supposed to pay for the land. My partner wants to charge back rent because he is upset that I would not buy his shares out in a share sale. He want to charge $1000 / month retro active back ten years. Our company has paid the taxes on the land and has had some side renters also.Thanks tom.Jason
Expert:  Tom B. replied 1 year ago.
Why did the company not pay for the land?
Was that an agreement in writing to pay?
Tom

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