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    mscharm's Avatar
    mscharm Posts: 1, Reputation: 1
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    #1

    Jul 1, 2010, 11:42 AM
    Can a succession be open on dual owned business if one owner dies
    There are two owners of a business, one dies... can the family of the deceased open a succession on the business?
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #2

    Jul 1, 2010, 11:48 AM

    That would all depend on exactly how the contract for the business is worded. Unless it stipulates the surviving business partner is granted the other partners portion in the event they walked away from it or died... that owners family very well might gain it through his estate.

    It all boils down to what's actually on paper from when the business was created.
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