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 RealEstateAnswer Your Own Question
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28318
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
Type Your Real Estate Law Question Here...
RealEstateAnswer is online now
A new question is answered every 9 seconds

I'm a partner who by contract is supposed to split the

Customer Question

I'm a partner who by contract is supposed to split the profit of the sale of a house. Through our deal, my partner owned the house so he collected all the money. He is supposed to split the profit with me. Although I have presented all pertinent costs to my partner, he did not paid me, nor did he question any of the costs presented to him. It has been six months now, and he has gone silent. I have sued him and am now heading for trial.
The question is: How much time should a partner have to agree/disagree with your findings? Is there a time period that essentially constitutes "tacit approval"? This is important because days before trial, my partner is making all kinds of false claims that more money was spent than was really spent. He should have raised these claims long ago, and I have little time to respond.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.

Good morning. I certainly understand the situation and your concern. Once you submitted your costs, any questions/objections/disputes should have been made in a "reasonable" amount of time. The contract between the two of you should have had a time in which the costs and/or profits needed to be paid, so this is something to keep in mind in the future, so all parties are on notice. Now, if your partner is NOW trying to raise these claims, right before trial, you can certainly object and say they are untimely. Moreover, they would have needed to likely amend their answer and raised these defenses, so you can be given a chance to respond, so if they are trying to do it now, a party would want to object and argue with the Judge they are untimely and therefore have been waived.

Expert:  RealEstateAnswer replied 1 year ago.

Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service at the top of this page, before exiting the site, so I can receive credit for my help. I hope you found it to be Excellent! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.