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Situations may arise where a member doesn’t so much want to sell, but that through certain events he must sell. For example, you will greatly appreciate being able to buy the members interest or not give them controlling interest in the event of death, bankruptcy, insanity or incompetence, conviction of a felony, involvement in an activity that harms the business or reputation of the company, failure to make a capital contribution, termination of employment if employed by the company, divorce where the inactive spouse obtains the interest of the active spouse in a property settlement, and a member's default of any obligation owed by the member to the company.
One final word on foreclosure in Riverside County California :: Once a NOD is recorded it is a matter of public record. Certain companies calling themselves Foreclosure Consultants or some variation of that will contact you about the foreclosure. Typically, the consultants will get involved where there is equity in the property. We highly recommend that you seek counsel from an attorney before agreeing to sign up with a Foreclosure Consultant.
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