Therein lies the rub...what is fair market value? In today's market you really don't know until you get the reality check of "Well I think its worth $X" at 12 months later not sold or it is sold for a percentage of $X...
David F. Risch Gulf Stream Associates, LLC (401) 419-4650 ________________________________ From: CnC-List <cnc-list-boun...@cnc-list.com> on behalf of Joe Della Barba via CnC-List <cnc-list@cnc-list.com> Sent: Thursday, April 5, 2018 11:23 AM To: cnc-list@cnc-list.com Cc: Joe Della Barba Subject: Re: Stus-List Partnership buyout - without an agreement Without a defined buyout, this is kind of a pain. My first guess would be the person leaving owes you 25% of fair market value. Joe Della Barba j...@dellabarba.com From: CnC-List [mailto:cnc-list-boun...@cnc-list.com] On Behalf Of Andrew Means via CnC-List Sent: Thursday, April 05, 2018 11:16 AM To: cnc-list@cnc-list.com Cc: Andrew Means <andrew.cnc...@gmail.com> Subject: Stus-List Partnership buyout - without an agreement Hey all - I’ve been part of a boat partnership for the past 9 years with three of my friends. This partnership has lasted over a series of boats and we’ve had very few issues with the whole arrangement. Presently however one of the partners is wishing to be bought out or to sell their share, just before a re-rigging project. Since we don’t have an agreement in place we have to navigate these waters ourselves, but I wanted to see if you guys had experience or knew what the most common buyout arrangements (i.e. what agreement *might* we have signed had we signed one 9 years ago?). If we find a buyer we all like in short order then this may all go perfectly smoothly, but if we don’t I’d like to have advice for the best way(s) to proceed. Andrew
_______________________________________________ Thanks everyone for supporting this list with your contributions. Each and every one is greatly appreciated. If you want to support the list - use PayPal to send contribution -- https://www.paypal.me/stumurray
