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I'm having trouble finding just a simple and short typed up…

I'm having trouble finding...

I'm having trouble finding just a simple and short typed up letter basically as a receipt that I am buying out my partners half of our small business. Proof that I paid her a certain amount for her half. Any help would be appreciated

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

Texas and no I have not

Lawyer's Assistant: Has anything been officially filed? If so, what?

Not officially filed, no

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Not at the moment

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Answered in 3 minutes by:
12/30/2017
Lori
Lori, Attorney
Category: Business Law
Satisfied Customers: 2,460
Experience: Business law attorney with over 25 years experience
Verified

Hello. I will try to assist you today. Are you buying out all the partners in a partnership? or is the business a corporation or LLC? If you are buying all the shares, are you paying consideration for the shares? Are any of them staying as officers or employees of the company?

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Customer reply replied 7 months ago
It is an LLC for our small business. It is just us 2 part of it and she is withdrawing from our partnership so I need to buy out her half of inventory, equipment, etc. My CPA I talked too for taxes we will have to file said as soon as I pay her the amount we agree on I just need to have a simple letter typed out that she can sign basically just stating proof that I paid her her half for our business. And then I will take that to him and he will file necessary forms. I've searched for templates but they are very long and confusing and I just need something as a receipt technically.

Okay. I understand what you need now. Please be sure to review the operating agreement and its terms as to the withdrawal or departure of a member of the LLC so that you comply with the agreement. You need a Notice of Withdrawal document.

Please wait while I type the response.

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Here's the form:

Notice of Withdrawal of Member from LLC

(LLC name) (State of Texas)

Date:

To: (LLC name) and (name of remaining member)

The above listed LLC was organized under the laws of the State of Texas on _________.

The current members of the LLC are: ____________________ with each owning ___% f the LLC.

I, _______________________, hereby withdraw as a member of the above-listed LLC and hereby tender my membership certificates to _________________________ in exchange for the sum of $ _______________. I have notified the LLC in writing of my withdrawal.

________________________________

Signature and print name of withdrawing member

Hope that help. If satisfactory, please remember to accept the response and post a positive rating. Generally, the drafting of any documents is beyond the scope of this site so a bonus would be greatly appreciated, if you so desire.

Lori
Lori, Attorney
Category: Business Law
Satisfied Customers: 2,460
Experience: Business law attorney with over 25 years experience
Verified
Lori and 87 other Business Law Specialists are ready to help you
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Customer reply replied 7 months ago
That helps a ton! Thank you so much!
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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