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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: 632
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 1 month 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: 632
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 1 month ago
That helps a ton! Thank you so much!
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Lori
Lori
Lori, Attorney
Category: Business Law
Satisfied Customers: 632
632 Satisfied Customers
Experience: Business law attorney with over 25 years experience

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