I am the owner of a share in an LLC, another owner died and inherited his share...

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...relative, can I buy back his share from the heir and what actions should I take for this?

08.09.2023 15:21 482

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Photo of 30.09.tana2002 Tatіana Mazur

You can send the new owner a formal letter of offer to buy their share. You should understand that the owner of the share has the right to decide whether to sell his share, unless otherwise stated in the contract.

In accordance with Article 7 of the Law "On Limited and Additional Liability Companies", a corporate agreement may provide for conditions or the procedure for determining the conditions under which a participant has the right or obligation to buy or sell a share in the authorized capital (part thereof), as well as determine cases, when such right or obligation arises. Also, in accordance with Article 20 of the same Law, a member of the company has a priority right to purchase a share** (part of a share) of another member of the company, which is sold to a third party.

12.09.2023 11:00

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