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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 101403
Experience:  Lawyer
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I'm in need of some advise on my x buying me out of our

Customer Question

Good Day I'm in need of some advise on my x buying me out of our business. He holds 51 shares and I hold 49. I have no Idea how to start this process. Any advise would be greatly helpful
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Debra replied 1 year ago.

Does he agree to buy you out?

Is there a shareholder agreement?

Expert:  Debra replied 1 year ago.

Did you get a chance to read my questions to you? I cannot answer you in a meaningful way until I gather the appropriate information. There is no charge for us going up and back of course.


Customer: replied 1 year ago.
he is the one who asked about it and I'm fine with that. As for the shareholders agreement I don't believe there is. This is a husband and wife small business. We have been divorced since 2014 but still work together. I'm wanting to do this as well. So I can move on to a new job.
Expert:  Debra replied 1 year ago.

Your next step would be to have the business valuated by a professional business valuator.

Then you will know what your spouse has to pay you.

You would then simply need to find a lawyer to assist with the sale which will not be complicated or expensive and you would both share in the legal fees.

Does that help as a starting point?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Expert:  Debra replied 1 year ago.

Is there anything more I can help you with at this point in time?