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Securities and Common Law Fraud

Discussion in 'Joint Ownership' started by nickbillions, Apr 1, 2014.

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  1. nickbillions

    nickbillions Law Topic Starter New Member

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    I own a real estate firm with 6 residential properties. The LLC that is registered as owner of these properties is a sole-member LLC. It was dissolved back in 2012 as a multi-member LLC (which only had my name as an active member and I placed that 2 additional members were apart of the company) and registered as a single-member LLC this year. When the company was formed, I was in an intimate relationship with an individual that 'gifted' funds from her personal account that I used to purchase properties in the company. No promissory notes or loans were created EVER in exchange for the funds that were gifted to me. Her only request was to receive distribution of cash flow from the rentals. At her own choice and discretion, she chose to take credit card advances and personal loans to purchase more properties with no cohersed action from me. The personal relationship was disbanded 2 months ago in which I took all of the ownership interests from my company along with setting up new accounts, EIN numbers, etc. to go with my LLC being re-registered in public records. My name solely is on all contracts, entity papers, and everything relevant to prove sole ownership with her not involved legally in any way. I just received an initial contact letter from a law firm stating that I owe her back all of the funds that she CHOSE to use in my business either in the form of funds or warranty deed ALL of my properties' interest to satisfy her debt. Is this a case or just a bluff letter? Thanks in advance for any advice.
     
  2. army judge

    army judge Super Moderator

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    I suggest you seek the opinion of a licensed attorney (or two) in your area.
    A lawyer letter can portend dire consequences, perhaps a lawsuit.
    This is NOT what this site does.
    You need REAL legal advice.
    The things you term gifts, might be otherwise.
    Seek it.
     

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