Good afternoon.We have 3 properties with...

Asked by ZOZO on 08-08-2023 12:06:08
Question posted in the General Law category relating to Eastern Cape

Good afternoon.

We have 3 properties with my partner, 2 are fully paid up, the third is still bonded through the bank. All properties are used for business, one is an Early Childhood Development Centre, the other is for student accommodation the last one is has tenants. All these properties are registered in both our names. We have 2 Cars that are transporting school children (scholar transport). In all these businesses I was the one who initiated & mostly came up with the business plans in terms of how we can profit from these ventures, subsiquently have been a driver for 5 years of the scholar transport & raised more funds to buy the addional car to transport additional scholars. I'm the one who is always available & performing the duties of managing the businesses, whiles my partner is always not available.  We also have a Van that is still finaced by the Bank & is used for business erands, the contract is signed through the business name. I have decided to cut ties with my business partner & need advice in terms of legal processes to follow, as we have reached a point of no return, we are constatntly fighting & arguing over evrything that has to do with how these businesses should be managed & I've reached a point where we cannot agree on anything, e.g: money that is supposed to be saved is used for personal gains & things that have got nothing to with business are done using the funds from the business account, such as Petrol for travelling expenses to family & entertainment etc.


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