We are two partners running a grocery store. The rent lease is in the name of my partner (who's now deceased) Problem: His children have given me an ultimatum to give up the store unless i pay $30000. This $30000 is for the sole purpose of removing their fathers name from the lease so i can take over. They have written to me ( through the property manager) to give up the place by the beginning of next month.
I'm sorry to hear about your partner's passing. You had to have ben close to him if you had worked with him for any length of time.
His interest in the store passed to his heirs, and I assume that means his children. I hope that you and your partner had a partnership agreement of entity governing the relationship and what happens if one of you passed, and that should be consulted first. If there is no such agreement, then the parntership ended with his passing, and provisions need to be made as to the disposal of the assets.
You need to meet with a business lawyer in your area as soon as you can to go over all this. There are too many small details that need to be discussed. If they are discussing the end of June, you have only a few days to start this process. It is best you do so right away.
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