How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Tom B. Your Own Question
Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
Type Your Canada Law Question Here...
Tom B. is online now
A new question is answered every 9 seconds

If I represent the 3rd generation of a joint owned property

Customer Question

if I represent the 3rd generation of a joint owned property that is personally held in Ontario where two families own 50% personally. I am a grandchild of one 50% partner, I have seen my parents try to regain the management that they once had before being pushed aside by their own relatives and partners. I have seen them sit down to negotiate a buy out but told that the property they know is a certain value is in their partners opinion worth many millions less than the number that represented fair market value.Well this week its time to sign the renewal documents between these partners who like to push and push my family. What would occur if I chose not to sign those documents and how can I ensure that fair market value is given to my family when I tell them that we want out of this business which is too one sided to discuss or understand.Keep in mind, my family business is mainly through jointly owned corporate entities there has never been a joint venture agreement or partnership agreement to the best of my knowledge and so I'm wondering as a 3rd generation child, how the hell do we ever get away from a 50% partner who insists on managing everything so their family remains employed when my family cannot even afford to rent an office due to the lack of income coming in on this end and how do I get out of all of these businesses and companies and quickly?
Submitted: 11 months ago.
Category: Canada Law
Customer: replied 11 months ago.
I am sorry, I mean the renewal mortgage documents are due by month's end (that is this month) and I haven't yet signed on behalf of my family's 50% interest. Wouldn't that be an effective way to negotiate my family out of this partnership as well? I don't have many other options when everything I bring forward gets shot down or is too one sided.
Customer: replied 11 months ago.
I would like the response right here if you don't mind rather than by text or email and I'm hoping that your lawyers if truly as good as suggested can and will come up with a fool proof way finally for a 50% partner who feels more like a retired arms length investor in their own business to finally take their end of all business and companies by way of fair market value without having to go to the partition and sale nonsense that will cause irreversible problems in the family and with the business that we cannot get out of right now.
Customer: replied 11 months ago.
I need a lawyer to right to me right here and now before other members in my family and business realize that I am finally seeking my own solutions to these ongoing problems in our business
Customer: replied 11 months ago.
sorry meant, I need a lawyer to respond right here and now and as soon as is possible. Thanks
Customer: replied 11 months ago.
this was paid in full by my paypal account to the tune of $48.00 and was asked at 9:49 with a approximate wait time of 8-9 minutes. I can no longer await your response. Kindly credit back my paypal account with the $48.00 immediately. thank you.
I will go to another law office instead of using your advise online. Thanks anyways.
Expert:  Debra replied 11 months ago.

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

Expert:  Debra replied 11 months ago.

I am sorry for the delay and I know you requested me.

I am on vacation and we are three hours behind Ontario time so I was asleep when you posted. Let me know if you want to go ahead. I will be online off and on for a while but then I am flying home this afternoon so won't be online then. I get back to Ontario at midnight.

I will be online full-time again starting tomorrow.

But if you want a refund please go ahead and request with customer service.