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Started By
Message
2
Posted on 1/14/19 at 7:45 pm to Sao
quote:
Can he have the others buy him out at a dollar a piece? Have a secondary agreement drawn up to retain ownership percentage if they ever sell.
Fraudulent transfer and against public interest.
Posted on 1/14/19 at 7:45 pm to TigerNAtux
quote:
That’s because you are a weatherman.
Theirs that.
You are getting the type of advice from people that do not understand the difference of there, they're, their. Is that what you want?
Posted on 1/14/19 at 7:45 pm to hubreb
seems like court making him sell doesn’t mean all the land has to be sold. Means he has to sell his 25% share of it. I doubt 2500 acres is worth 4K an acre.
Posted on 1/14/19 at 7:45 pm to hubreb
he really should consult an attorney.
Posted on 1/14/19 at 7:47 pm to Geauxtiga
quote:
Means he has to sell his 25% share of it. I doubt 2500 acres is worth 4K an acre.
This.
And the money from this is to go to debt collectors named in Bankruptcy
This post was edited on 1/14/19 at 7:47 pm
Posted on 1/14/19 at 7:48 pm to O
quote:
You are getting the type of advice from people that do not understand the difference of there, they're, their. Is that what you want?
I am not getting any advice, I just told my wife that if anyone would know/(no frickers) it would be the OT
Posted on 1/14/19 at 7:49 pm to VABuckeye
quote:
can they make him sell it?
I never knew this was an issue until I read this site.
Posted on 1/14/19 at 7:49 pm to TigerNAtux
quote:
That’s because you are a weatherman.
*whetherman
Fwiw, they absolutely can and will get the equity out of his 25%.
Posted on 1/14/19 at 7:49 pm to brian_wilson
What if the other 3 cant afford to or dont want to buy him out?
The court could make him sell his 25 %, but who decides which part or where does the 25% of the total acreage come from ?
It would have to be subdivided, who pays for that ?
Really messy
The court could make him sell his 25 %, but who decides which part or where does the 25% of the total acreage come from ?
It would have to be subdivided, who pays for that ?
Really messy
This post was edited on 1/14/19 at 7:52 pm
Posted on 1/14/19 at 7:50 pm to O
quote:
Nothing beats free legal advice on an internet forum. We for sure will get a lot of quality responses from Arkansas attorneys on a Louisiana school fan forum.
I wonder if Geauxjudge gets internet access in prison?
Posted on 1/14/19 at 7:51 pm to O
quote:
You are getting the type of advice from people that do not understand the difference of there, they're, their. Is that what you want?
I'm pretty sure that's on porpoise.
Posted on 1/14/19 at 7:52 pm to Drop4Loss
quote:Who said it had to be one of the other 3? Find another family member or close friend to get in.
What if the other 3 cant afford to or dont want to buy him out?
quote:Appraial.
The court could make him sell his 25 %, but who decides which part or where does the 25% of the total acreage come from ?
Posted on 1/14/19 at 7:52 pm to Drop4Loss
quote:
The court could make him sell his 25 %, but who decides which part or where does the 25% of the total acreage come from ?
Really messy
The bankruptcy trustee is going to want to generate the most value possible in a reasonable amount of time. The other three owners absolutely need to get an attorney(s) to protect their interest.
Posted on 1/14/19 at 7:53 pm to hubreb
quote:
land is not separated by ownership
Have the land divided up now. Make the bankrupt fellas the shape of a big swastika right in the middle. If anyone wants to buy that you can call them racist and blackmail them.
Posted on 1/14/19 at 7:53 pm to hubreb
Let's put it this way OP, if 10 men all went in together 10% each on 10 different businesses. They were each in charge of one business, but only owned 10% of each.
Are you trying to say that all 10 could go bankrupt and there is not shite anyone could do to get money out of any of them?
Are you trying to say that all 10 could go bankrupt and there is not shite anyone could do to get money out of any of them?
Posted on 1/14/19 at 7:53 pm to Sao
quote:
Can he have the others buy him out at a dollar a piece? Have a secondary agreement drawn up to retain ownership percentage if they ever sell.
Umm, no.
Posted on 1/14/19 at 7:54 pm to baldona
quote:He hasn’t said shite, he’s asking.
Are you trying to say that all 10 could go bankrupt and there is not shite anyone could do to get money out of any of them?
Posted on 1/14/19 at 7:56 pm to slackster
Reading is fundamental.
I am disappoint.
I am disappoint.
Posted on 1/14/19 at 7:57 pm to Geauxtiga
I haven't been to property, my kids have...a combination of river front and small hills/mountains..not sure if any is farmable... basically a hunting/fishing camp passed down one generation...in middle of no where... would guess not worth a ton
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