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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118635
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I have a home staging company,llc in Illinois with 2 other

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I have a home staging company,llc in Illinois with 2 other equal partners. We have no buy/sell agreement in place. We all stage, they sell, and I do everything else (books, operations, marketing, selling,...) We have no debt, doubled our income from year one to year two and maintained the same income this year as last with the poor economy. I would like to move on to other ventures due to personal reasons, and partners would like to keep the company. Do I have any rights to recoup any of the $30,000 of income I have re-invested in the company? If they choose not to buy me out, can I legally sell my partnershipto an outside party or insist we liquidate the company? Thank you!
If it is an LLC, then absent a buy/sell agreement, you would have to negotiate a buyout with the LLC or the other members or you would have to then seek to sell out your membership to an outside party and since there is no bylaw in the membership agreement to prevent this, it would be allowed.

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Customer: replied 8 years ago.
Thank you!
Thank you.