Posted by John Merchant on August 14, 2003 at 18:42:18:
So who owns the stock in the corp? If he does, and again, if the state law gives W an interest in H’s property (the corp stock), that may be the reason for the court’s holding onto the stock.
Not having seen the file, or the lawyers’ pleadings or citations, neither I nor anyone else is in any position to second-guess the court.
What does H’s lawyer say about this? If he can’t answer the question, who could?
divorce settlement and sale of commercial property - Posted by jeff
Posted by jeff on August 07, 2003 at 20:32:23:
My wife and I are getting a divorce. We equally own a C corporation (50% each) that owns a commercial property. Someone has submitted an offer to buy the commercial property.
I want to sign the agreement as the president of the corporation. My wife does not want to agree to the sale of the property until we have a full financial settlement to the divorce. Can I still sign the sales agreement as president of the coporation even though she disagrees with the sale of the building?
If the building is not sold, both of us will probably end up filing for bankruptcy because I cannot continue pay for the expenses of the commercial property. Any thoughts?
Re: divorce settlement - Posted by John Merchant
Posted by John Merchant on August 10, 2003 at 12:18:32:
Why aren’t you talking to YOUR lawyer about this? This is a matter that the lawyers can hammer out. If the lawyers agree that the W should sign, her lawyer can have her sign; otherwise it’s going to be a critical part of any settlement of the D action.
Exactly why both parties in a divorce suit need their own lawyers. Very poor practice for either party to rely on other spouse’s attorney. A lawyer can represent only one side, not both.
Seek Legal Counsel - Posted by William L. Exeter
Posted by William L. Exeter on August 10, 2003 at 10:55:09:
You need to seek legal counsel that specializes in corporate issues such as this.
Re: divorce settlement and sale of commercial pro - Posted by Sam
Posted by Sam on August 08, 2003 at 17:48:59:
Sorry, Don’t know the answer to your question.
I heard in saudi arabia a wife needs written permission from her husband to go out on the street at night. Imagine living there. Your wife wouldnt have a say in anything. Anyway, good luck.
Re: divorce settlement - Posted by firefox
Posted by firefox on August 12, 2003 at 17:59:54:
I have a general question about this. His wife is a shareholder. Shareholders don’t get to tell officers what to do; that power is reserved to the directors. What theory of law could she be using to ignore corporate formalities?
Re: divorce settlement - Posted by John Merchant
Posted by John Merchant on August 12, 2003 at 22:08:11:
If the property law in their state gives her half interest in what he owns, since it’s now in court in a divorce/legal separation action, the court has a lot of leeway in saying what he can/can’t do with the prop.
If no divorce, I still would want W’s signature if I were a buyer, but if the title co. would give me clear title without W’s signature, I might not care.
Re: divorce settlement - Posted by firefox
Posted by firefox on August 14, 2003 at 17:32:14:
>If the property law in their state gives her half
>interest in what he owns, since it’s now in court in a
>divorce/legal separation action, the court has a lot of
>leeway in saying what he can/can’t do with the prop.
He doesn’t own the property, it’s owned by a corporation. As such, I don’t understand why she has any claim on title, and as shareholder she has no right to interfere with corporate business. So what’s up?