Messy Title in a Gen Partnershp - Posted by JT from SD
Posted by JT from SD on November 12, 2000 at 10:44:33:
Lack of Experience has made it necessary to seek your guidance and counsel.
Here is the scenario. I am involved in a General Partnership involving real estate that was not recorded correctly with the County Assessor or had a Certificate filed with the State. The Managing Partner was the one who set or rather incorrecty set up our organization.
As a result, his name is listed on the Grant Deed DBA under the name of the partnership. But our partnership does not have any record of its existence at the State. It looks like the Managing Partner’s signature is the only one needed to conduct any business in reference to our real estate.
We have our own by-laws governing our partnership. Our partnership was published in a local newspaper so there is a public record of our existence.
What we want is to vote him out as Managing Partner and have him sign over the quit claim deed back to a new managing partner within the group. The by-laws we have are specific and how to remove the Managing Partner, a 67% vote is mandatory. We will have it…
My QUESTION is… CAN HE REFUSE TO SIGN THE QUITCLAIM DEED deeding back to the group? If so, What is my recourse?
A quick reply would be appreciated.
Thanks in advance.