Business Partner May Challenge My Share.
I think I know parts of the answer but...
I am a 40 percent share holder in an s corporation with one other 60 percent share holder. The corporation has a mortgage on the commercial property where the business is based. The majority share holder has expressed interest in buying the property with a new mortgage and then charging the corporation rent. Thereby releving me of additional share in profits. I am sure he would want a triple net lease to also reduce any maintenance liability. Can the majority share holder buy the property without my concent?