Skip to main content

My Business Relationship With My Partner Has Gone Bad – Can My Partner Remove Property From Our Office

By Bashian & Papantoniou
October 02, 2015

Practice Areas

Resourses

stressed out business person
Sometimes business relationships turn sour and the unfortunate task of winding down and dissolution of the business needs to occur.  However, generally speaking the property of the business should never be removed from the business property unless the partners have agreed to such removal (whether such agreement for removal is stated in the original partnership agreement or in a new agreement between partners). First, the business property belongs to the business and not the individual partners. Second, it’s possible that creditors have liens and secured interests in the property. The partners may have provided guaranties.  If one partner removes assets it may be difficult to repossess such property and in any event the partners may still be liable for payments on the property removed.  Always allow for the proper winding down of the business, which includes paying of liabilities and may require the selling off of assets and property of the business.
Category: Business, Litigation

  • Related Posts

    09 February 2026
    Why You Should Never Sign an Employment Agreement Without an Attorney’s Review
    Read More

  • Related Posts

    26 January 2026
    Defending Personal Injury Claims Against Real Property When Uninsured: A New York Property Owner’s Guide
    Read More

  • Related Posts

    17 December 2025
    Corporate M&A for First-Timers: What to Expect (Without the Jargon)
    Read More