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investor question?

Started a business 10 years ago. A family member gave me $25k (of the more than $100k I need to start) to help with financing the business, in return I've given them back $500 per month for the last 10 years - they've made their investment back and more! now, if I sell my business, are they entitled to a percentage of the sale?

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The BAF Group LLC
MD

It depends on the agreement you signed with them when you went into business. If there is no agreement, I would not putz around with free and sometimes questionable advice on the Internet; I would see an attorney. My gut feeling is that, in the absence of an agreement, you have no obligation to them. But I am not an attorney - I don't even play one on TV!

Jul 19, 2015

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