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Old 12-29-2017, 10:29 AM   #1
melmac
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Default NJ-need advice-own 50% corporation-(land) being screwed by uncle

I inherited 50% of the shares in a corporation 8 years ago. Property valued over $700,000. The corporation was a family owned buisness years ago. It is basically land with a duplex rental and some garage structures. My uncle owns the other half. We are not speaking. I have no information on this coporation except that I have the stock certificate. He is listed as the president and I am listed as the vice president. He is supposed to give me a yearly accounting of the property, but he hasn't.*I need to find out information and dont know where to start. I would like to disolve the coporation, sell my shares or get rid of this entaglement. Any advice would be appreciated. I don't have money to go to an attorney at this time. Thanks in advance!
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Old 12-29-2017, 12:08 PM   #2
adjusterjack
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Default Re: NJ-need advice-own 50% corporation-(land) being screwed by uncle

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I don't have money to go to an attorney at this time.
Then your uncle gets to continue doing what he's doing.
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Old 12-29-2017, 01:29 PM   #3
Wenton2
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Default Re: NJ-need advice-own 50% corporation-(land) being screwed by uncle

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I inherited 50% of the shares in a corporation 8 years ago. Property valued over $700,000. The corporation was a family owned buisness years ago. It is basically land with a duplex rental and some garage structures. My uncle owns the other half. We are not speaking. I have no information on this coporation except that I have the stock certificate. He is listed as the president and I am listed as the vice president. He is supposed to give me a yearly accounting of the property, but he hasn't.*I need to find out information and dont know where to start. I would like to disolve the coporation, sell my shares or get rid of this entaglement. Any advice would be appreciated. I don't have money to go to an attorney at this time. Thanks in advance!
Ask him for the yearly accounting and explain you may have to hire legal counsel to review everything if he will not give you the information that you are asking for.

If you two cannot agree on these things then indeed you may need to have legal counsel assist and force your uncle to comply, to the extent legally possible.
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Old 12-29-2017, 05:08 PM   #4
Highwayman
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Default Re: NJ-need advice-own 50% corporation-(land) being screwed by uncle

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I would like to disolve the coporation, sell my shares or get rid of this entaglement.
So you want to sell shares of a company that doesn't exist anymore? That makes sense.

Why do you care what happens? Sell your shares and walk away.
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