Question for professionals! Acquisition of a percentage in a company (LLC) of a sponsored asset owned by an American. Is the…
A Question for Professionals!
Percentage Acquisition (LLC) of an American-owned sponsored asset. Does the financing body need to approve the purchase of my shares after the loan has been granted, as I am now also charged with a mortgage?
I will go on to say that in order to avoid examining the body that finances me (non-American with no credit and no history) we decided that I would enter only after funding.
Does anyone have any experience? Or something smart and well-founded to say
In addition to all that is said here, make sure in the loan documents that there is no restriction on transfer of shares etc.
Sometimes the banks put in a clause where they have to get their approval before any change in the holding structure of the company, such a situation can put the company in the bank and then the bank can demand to repay the loan immediately
The funding body will seek to see the “strong” partner (the American with the credit based) as the Majority Holder with all the implications of responsibilities and decisions.
Depending on the funding body, you can hold up to 10% from time to time and up to 20%.
All that is said has nothing to do with the distribution of profits between you.
Keep in mind that the exposure of this (the "strong" partner) is greater than your own and in the event of an extreme default or lawsuit they can access the joint company and demand up to 80% to 90% of their share in the company ורך
Check well for who is registering the loan and whether something is personally responsible for it. The fact that you buy his percentage in a company does not necessarily relieve him of the loan guarantee.