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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11132
Experience:  30 years as a practising solicitor.
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I am a partner in a business with my sister. (4 years ago

Resolved Question:

I am a partner in a business with my sister. (4 years ago with my late mother). my mother left her share in business to my sister.
as all other sibling had been left out, they claimed legal rights. We have since been informed previous on your site, that if the business cant pay the money out, then it has to be sold. As I do not want to sell and cant be forced. I hope as the legal right are nothing to do with me. I assume if I make an offer she either has to accept or pay the legal rights. is that correct? And because of length of time and failure of information. Can we claim interest? my sisters lawyer did not make it clear that the business had to be sold she only said if it was. we could not our claim our legal rights as didn't have to pay it out of her drawings.
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.
If you make a compromise offer she either has to pay you your share of legal rights or accept the offer that is correct.
Interest is due on legal rights form the date of death. It would not be die on an agreed settlement figure which would be deemed to be inclusive of all interest and other costs.
What you are entitled to is a share of one half of moveable property along with your siblings which will include the value of your mother's capital account as at the date of death.
You should not be relying on your sister's lawyer as you call her but I assume you mean the lawyer winding up your late mother's estate. You should be instructing your own lawyer to have the business valued so that you can assess what is due to you.
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