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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 23968
Experience:  9+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I'm a partner who by contract is supposed to split the

Customer Question

I'm a partner who by contract is supposed to split the profit of the sale of a house. Through our deal, my partner owned the house so he collected all the money. He is supposed to split the profit with me. Although I have presented all pertinent costs to my partner, he did not paid me, nor did he question any of the costs presented to him. It has been six months now, and he has gone silent. I have sued him and am now heading for trial.
The question is: How much time should a partner have to agree/disagree with your findings? Is there a time period that essentially constitutes "tacit approval"? This is important because days before trial, my partner is making all kinds of false claims that more money was spent than was really spent. He should have raised these claims long ago, and I have little time to respond.
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 10 months ago.

Good morning. I certainly understand the situation and your concern. Once you submitted your costs, any questions/objections/disputes should have been made in a "reasonable" amount of time. The contract between the two of you should have had a time in which the costs and/or profits needed to be paid, so this is something to keep in mind in the future, so all parties are on notice. Now, if your partner is NOW trying to raise these claims, right before trial, you can certainly object and say they are untimely. Moreover, they would have needed to likely amend their answer and raised these defenses, so you can be given a chance to respond, so if they are trying to do it now, a party would want to object and argue with the Judge they are untimely and therefore have been waived.

Expert:  RealEstateAnswer replied 10 months ago.

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