[WSBAPT] Q re First right of refusal

[Craig Gourley]

First blush I would say it’s a real property right that was transferred to the spouse by the decree.  Of course the language of the decree would need to be reviewed but they are typically devoid of any detail that would be helpful.

Gourley Law Group
Snohomish Escrow
The Exchange Connection

1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065
360.568.8092  fax
Craig at glgmail.com<mailto:Craig at glgmail.com>

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jennifer Sohn
Sent: Friday, February 12, 2016 12:23 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Q re First right of refusal

His theory is that the right was held by H&W together, not to any of the individual. I don't want to go to court with his argument, and we are seeking a second opinion, but I wanted to see if I am completely off somehow.

On Fri, Feb 12, 2016 at 11:53 AM, Craig Gourley <craig at glgmail.com<mailto:craig at glgmail.com>> wrote:
You will need to read the terms of the document granting the right but on these bare facts,  I am not seeing how a transfer pursuant to a divorce decree voids the right.  What’s his theory?

Gourley Law Group
Snohomish Escrow
The Exchange Connection

1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065<tel:360.568.5065>
360.568.8092<tel:360.568.8092>  fax
Craig at glgmail.com<mailto:Craig at glgmail.com>

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> [mailto:wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>] On Behalf Of Jennifer Sohn
Sent: Friday, February 12, 2016 11:20 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Q re First right of refusal

I have a client who took title to 95% of a commercial property, as tenants in common, with H&W (the couple owned 5%). They signed a partnership agreement (which should have been called a tenancy in common agreement), which gave each other a first right of refusal. They've owned the property together for about 20 years.

During the 20 years, the 5% owner (H&W) got a divorce and H owns the entire 5%. The partnership agreement has not been modified.

My client is asserting that, after 5% guy's wife was taken off the title, the 5% guy's first right of refusal got nullified. I think he still can assert the right.

Any thoughts?

_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com<mailto:WSBAPT at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbapt



--

Best regards,



Jennifer Y. Sohn

Attorney at Law

(Licensed in CA and WA)

Sohn Law PLLC

10900 NE 4th Street, Suite 1850

Bellevue, WA 98004

Tel: 206.617.7874

Fax: 425.732.9748

Email: jennifer at sohn-law.com<mailto:jennifer at sohn-law.com>

http://www.sohn-law.com<http://www.sohn-law.com/>



Confidential. This electronic mail transmission and any accompanying documents contain information belonging to the sender which may be confidential and legally privileged. This information is intended only for the use of the individual or entity to whom this electronic mail transmission was sent as indicated above. If you are not the intended recipient, any disclosure, copying, distribution, or action taken in reliance on the contents of the information contained in this transmission is strictly prohibited. If you have received this transmission in error, please delete the message. Thank you.



Circular 230 Disclaimer. Any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and may not be used, for the purpose of (i) avoiding penalties under the internal revenue code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20160212/4baa7bec/attachment.html>