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Coffee Shop
How to not screw myself/family members in a partnership?
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<blockquote data-quote="hurleyjd" data-source="post: 1581422" data-attributes="member: 4674"><p>You are looking out for your self. How about just buying the land and cash renting it to the LLC. Here is another problem that might crop up. Your are thinking along the lines of mother, brother and self. What for instance there was a divorce or death in the family and say that your part passed to your wife. What then. Better untangle your self from this situation. Here is a true story a woman in my area decided to deed her house to her thirty year old son. After the deed the son knocked up a low life woman in the area and they had a son. The son gets killed in a motorcycle wreak his heir the son who is two years old now owns the house. The mother is appointed guardian to her son and deceased sons son. She informs the mother who was living in the house she deeded to her son that the house was now not hers. The woman that is the mother to the sons son informs the mother she was going to sell the house for her son. The mother of the dead son ends up having to buy the house she had paid for and now is buying again. Hope this does not confuse you. I under stand a trust might have worked her.</p></blockquote><p></p>
[QUOTE="hurleyjd, post: 1581422, member: 4674"] You are looking out for your self. How about just buying the land and cash renting it to the LLC. Here is another problem that might crop up. Your are thinking along the lines of mother, brother and self. What for instance there was a divorce or death in the family and say that your part passed to your wife. What then. Better untangle your self from this situation. Here is a true story a woman in my area decided to deed her house to her thirty year old son. After the deed the son knocked up a low life woman in the area and they had a son. The son gets killed in a motorcycle wreak his heir the son who is two years old now owns the house. The mother is appointed guardian to her son and deceased sons son. She informs the mother who was living in the house she deeded to her son that the house was now not hers. The woman that is the mother to the sons son informs the mother she was going to sell the house for her son. The mother of the dead son ends up having to buy the house she had paid for and now is buying again. Hope this does not confuse you. I under stand a trust might have worked her. [/QUOTE]
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