Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

I sold my 50% ownership in a company on December 31st, to my…

I sold my 50%...

I sold my 50% ownership in a company on December 31st, to my partner. We have 300,000. In our checking account as of December 31st. Legally, 50% of that is mine. Correct?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Colorado

Lawyer's Assistant: Has anything been filed or reported?

Not sure what that means

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

Not at this time

Show More
Show Less
Ask Your Own Legal Question
Answered in 5 minutes by:
1/6/2018
DrakeLAW
DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 1,038
Experience: Attorney
Verified

Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

Ask Your Own Legal Question

What type of entity is it, an LLC, corporation, partnership?

Ask Your Own Legal Question
Customer reply replied 4 months ago
SCorp

So assuming you sold all your shares to your partner and he owns 100% and your sale agreement did not specify anything about the company assets then no, it is the Company that owns the $300k in the account...not either of you personally.

Ask Your Own Legal Question

Had the company paid dividends or something on the 31st, yes you would be entitled to 50% of the dividends.

Please kindly rate the question so I may be credited. Thank you. You can still ask follow-up questions.

DrakeLAW
DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 1,038
Experience: Attorney
Verified
DrakeLAW and 87 other Legal Specialists are ready to help you
Ask your own question now
Was this answer helpful?
Ask DrakeLAW Your Own Question
DrakeLAW
DrakeLAW
DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 1,038
1,038 Satisfied Customers
Experience: Attorney

DrakeLAW is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

Ely

Ely

Counselor at Law

24,353 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

20,727 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

42,358 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo J. Senmartin, Esq.

Guillermo J. Senmartin, Esq.

Attorney

292 satisfied customers

7+ years of experience handling various legal matters.

< Previous | Next >

Related Legal Questions
Can you take over / or change ownership existing LLC . Also
Can you take over / or change ownership existing LLC . Also is the owners ID protected in the state of VA. Like in Wy or NV? Can they pierce the vale to get to the owner in Va? Can they do that no mat… read more
David L
David L
Doctoral Degree
1,604 satisfied customers
i want to sell replica clothing. how do i go about it legall
i want to sell replica clothing. how do i go about it legally.… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
Do you really need Fund Ownership Certificate to transfer offshore
Do you really need Fund Ownership Certificate to transfer offshore funds to your local bank here in the US… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
I dissolved my timeshare ownership in 2017 with a Quit Claim
I dissolved my timeshare ownership in 2017 with a Quit Claim Deed. I received a Schedule D from the resort representing a gain of $4500 when comparing the balance due to fair market value, is there an… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
20,727 satisfied customers
I have a question regarding pets and legal ownership. Is
I have a question regarding pets and legal ownership. Is that a area you can answer some question for me? … read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
I was curiois about the ownership of a vehicle. Colorado,
My fiance and i had a vehicle registered in my name. He took the vehicle when we split. I signed the title but have no proof or bill of sale. He does not have a license. I do not want to be responsible for any act … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,065 satisfied customers
Does an expired TRO disqualify gun ownership. In the state
In the state of Arizona from a Superior court case … read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
This is, i need to petition the court for ownership of a
this is mike, i need to petition the court for ownership of a vehicle. there are no claims or liens against the title . how does one word a petition for ownership? … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
42,358 satisfied customers
I recently signed up for a vacation ownership in Orlando
I recently signed up for a vacation ownership in Orlando Florida but after reviewing the agreement this is not what was told to me verbally. I have not paid the down payment or any of the monthly paym… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,065 satisfied customers
Is it legal to change ownership of a LLC when no money has
Is it legal to change ownership of a LLC when no money has transpired … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,065 satisfied customers
I was trying to file a lsuit regarding ownership of 2
Hello. I was trying to file a lsuit regarding ownership of 2 pets... … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
11,176 satisfied customers
Having a will in your favor means that the ownership of
having a will in your favor means that the ownership of whatever has been left to you is guarantee? … read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
36,546 satisfied customers
i found a ticket from a slot machine at a casino, cashed it
i found a ticket from a slot machine at a casino, cashed it in and later was confronted by security, a person had said they lost it. Is it mine or theirs?… read more
Lawgirl
Lawgirl
Founder
Doctoral Degree
4,606 satisfied customers
Can my ex boyfriend win visitation rights to my 2 dogs
He wants to take me to court to see the dogs every weekend. We have been seperated since December of 06 and has had a lawyer draw the papers for him but has not sent them yet because he is hoping I wi… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
can one owner sell a house when two names are on the deed
parents are divorced and father wants to sell house now, wife wants to wait two months. husband threatening to get a lawyer. both names on original deed.… read more
truthfinder
truthfinder
Educational Consultant
Vocational, Technical or Trade Scho
1,124 satisfied customers
Is there anything as a fund ownership certificate and if there
Is there anything as a fund ownership certificate and if there is how do you obtain one?… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I have a deeded 60 foot non-exclusive easement in California
I have a deeded 60 foot non-exclusive easement in California to give access to my property. Can I put an address sign on the easement with an arrow in the direction of my property? Can I cut brush and… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,065 satisfied customers
We have a vending machine that has been abandoned.
We have a vending machine that has been abandoned. There is no contact number or company name on the machine. How long do we have to wait and what is the process to take ownership of the machine?… read more
Lawrence N. Rogak, Insurance Atty
Lawrence N. Rogak, Insurance Atty
Managing Attorney
Doctoral Degree
1,032 satisfied customers

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).

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).

Show MoreShow Less

Ask Your Question

x