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Legal Eagle
Legal Eagle, Lawyer
Category: Business Law
Satisfied Customers: 4538
Experience:  Licensed to practice before state and federal court
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I'm minority owner of my llc. My partner wants to sell her

Customer Question

I'm minority owner of my llc. My partner wants to sell her share to someone else. Can I be forced to have a new partner?
JA: Can you tell me what state the LLC is registered in?
Customer: California
JA: Has anything been officially filed? If so, what?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: I offered to pay her out over time, but she wants her share all at once.
Submitted: 4 months ago.
Category: Business Law
Expert:  Legal Eagle replied 4 months ago.

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Expert:  Legal Eagle replied 4 months ago.

I'm sorry to hear about this case. The answer to your question is that it depends on the terms of your operating agreement. If your operating agreement gives you the right of first refusal or somehow limits the sale of the shares in the LLC, then you could prevent her from doing so. Otherwise, she can sell her share in the LLC to another person. It's kind of like if people co-own property. One person can sell their shares and you would have another owner involved and there is not much you can do. I would recommend negotiating with her about a buyout over time or maybe paying a premium if you can pay for her shares once a month or something to that degree.

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