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Worked For Reduced Pay In Exchange For Real-estate Equity. Owner Died And His Family Now Says My Existing Llc Interest Was Enough Compensation. (it's Not)

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This is a multistate U.S. matter, so I am leaving out exact locations and names.

For nearly a decade, I worked for a wealthy millionaire real-estate investor I had known and trusted for years. I relocated for the job and accepted about 35% less cash compensation and no benefits because he offered me equity in the properties I completed. He told me the equity could eventually make me a millionaire.

I have emails and company documents supporting the arrangement. An LLC was formed to carry it out. Properties I helped complete were supposed to be transferred into that LLC, and I was supposed to receive a percentage of the rents and sale proceeds.

I personally worked on and managed dozens of properties. This included renovations, repairs, cleanouts, code problems, contractors, tenants, maintenance and eventually rental management. Most of the completed properties apparently remained in the owner’s other LLCs, his individual name, a trust or other accounts instead of being transferred into our LLC.

When I complained about the missing transfers, he did not deny our agreement. He provided some partial compensation and eventually increased my documented interest in the LLC from a smaller percentage to 50%. A family trust owns the other 50%. I never signed a release or agreed that the LLC interest settled everything I was owed.

The owner recently died. His family now controls the trust side of the LLC and its management. A family member told me that the successors believe I was adequately compensated because I “got half a house.” They appear to mean that I own 50% of the LLC and the LLC owns a house. I do not personally own half of that house. I own half of the company that owns it. There should of been a couple dozen properties in the LLC but they were not transferred as agreed when he was alive and he assured me his kin would transfer it and make good on the deal, that they knew everything. I had no reason to doubt him as they were CC'd on his emails to me about his portfolio that I was making viable, one property at a time and sometimes 2 and 3 at a time.

No one ever told me that this one LLC property would be full compensation for nearly a decade of reduced pay and all the other completed properties. There was never a final settlement, valuation, release or property-by-property accounting.

I have sent formal written demands for the company books, bank records, property records and an accounting. I still have not received enough information to determine what happened to the rents, properties and sale proceeds. The operating agreement also requires AAA arbitration in California.

My legal questions are:

  1. Can the trust or successor managers legally declare that my existing 50% LLC interest fully satisfied a separate compensation agreement when I never accepted it as a final settlement?
  2. Could repeatedly promising future property transfers to keep me working, while placing the completed properties elsewhere, potentially support a fraud claim in addition to breach of contract?
  3. Should I be looking for a business-litigation attorney, an employment attorney, a trust-and-estate attorney or an arbitration attorney for a case involving all of these issues?

I understand nobody here can determine the outcome of my case. I am trying to identify the correct legal issues and the right kind of lawyer.

Location: Ohio

submitted by /u/Agitated-Orchid-1313
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