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Seller's Atty Fees
Sat Mar 27, 2010 22:47

As treasurer of my building, I have noticed that when we have had sellers and Buyers contracts of sales reviewed by our atty, we have not passed the cost onto the seller of shares. Is that correct or should any atty fees pertaining to vetting a sale should be charged back to the seller/shareholder?

If so, what is the statute of limitations? Can the amount be charged to the buyer who is now a shareholder?


    • Attorney fees Board Prez, Mon Mar 29 08:36
      Those fees should NOT be paid by the corporation. We collect the fee for document review (contracts and recognition agreements) as part of our application package with the check payable to our law... more
      • Seller;s Atty Fees TN, Mon Mar 29 10:55
        So if the Corp was billed for the lawyers' review of two sales packages two years ago, is it too late to send the atty fees on to the sellers if we know where they live? Our Corp only charges $250... more
        • Attorney Fees Board Prez, Mon Mar 29 16:40
          Normally your attorneys would not be representing the seller AND the corporation in the same transaction; however if that was the case, it is up to the attorney to collect those fees at the closing.... more
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