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Buying property from a company owned house
Hi,
I have a 1/3 share in a company setup to purchase a house 10 years ago. I now wish to outright own the property. for arguments sake the current market value is 90,000 and I have offered 60,000 to buy the other two people (family) who own 1/3 each.
What is the most efficient way to purchase? Would it be best to keep the company and buy out the partners or dissolve the company and purchase the house personally?
What are the potential pitfalls of either approach or if I should go another route.
Jeff
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