INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Alexander Paykin.
The Alexander Paykin Commentaries
Real estate partnerships often begin with optimism. But what happens when the owners of an LLC cannot agree on whether to sell, refinance, lease, renovate, contribute capital or sue?
On the Price of Business, Alexander Paykin, Esq. discussed deadlocked real estate LLCs and why these disputes can destroy valuable assets. In New York, LLC dissolution is not automatic just because members are fighting. Courts look closely at the operating agreement and whether the company can still carry out its business purpose.
That makes New York different from states like California, where the LLC statute includes a specific buyout procedure that can allow the other members to avoid dissolution by purchasing the moving member’s interest. Delaware, like New York, focuses heavily on the LLC agreement.
The takeaway for business owners and investors is clear: the operating agreement should not be a boilerplate document. It should plan for deadlock before the relationship breaks down.
Alexander Paykin, Esq. is Managing Director of Paykin Law, a New York firm focused on commercial litigation, real estate litigation and complex transactions. Learn more at https://www.paykinlaw.net/attorneys/alexander-paykin-esq.
Document note: This post is for general informational purposes only and does not constitute legal advice.
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