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Pearl. NJ. None

Customer Question
NJ Lawyer's Assistant: What...

NJ

Lawyer's Assistant: What steps have been taken so far?

None

Submitted: 9 months ago.Category: Legal
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Answered in 2 minutes by:
11/9/2017
Lawyer: INFOLAWYER, Attorney replied 9 months ago
INFOLAWYER
INFOLAWYER, Attorney
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Customer reply replied 9 months ago
I am 50 % owner of a NJ based company. My partner is my brother. We do have equity and also debt against equipment that we are paying down. I haved signed personal notes for some of the equipment we are paying off. The notes will be paid off in about another year. I want to forgo my ownership in the company. I do not want anything from my brother. I have other companies that are taking most of my time up and just want to get my name off of this particular partnership. How do I go about doing that. Do I need to hire a lawyer? Is there a procedure than can be started to decrease my ownership? Basically what are the steps I need to take? Thanks
Lawyer: INFOLAWYER, Attorney replied 9 months ago
You can transfer your equity in writing. Lawyer not required.
However that won’t erase your personal obligation on notes unless the creditors release you in writing.If needed, martindale.com and findlaw.com are both excellent lookup directories. Both highly rated. Both used by lawyers. Easy to search and find local options.Please let me know if the reply is acceptable by responding “yes” or “acceptable”
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