There are countless reasons why buyers and sellers seldom agree on a business’s valuation when it is put up for sale. For this situation, the two parties should consider instituting an earnout provision. In the context of a business transaction, an earnout agreement is a provision in a contract that allows the business’s seller to gain compensation in the event that the business hits certain benchmarks after the Read More

If it’s gotten to the point where the bank is threatening to foreclose on your house, you might feel like you’re at the end of your rope – mentally and financially. The good news is that you still have an array of legal options at your disposal. Many of these fixes are only stopgaps to temporarily stop foreclosure actions against you, but if all you need is a little breathing room to get caught up on your mortgage, Read More

When looking into a real estate purchase, whether for investment or as a home, one of the most important things to do is make sure that the title is clear. If there are any problems with the history of the title or there is a dispute over ownership, these should be addressed before signing any contracts. One of the best ways to deal with these issues is with a quiet title action.  What Is a Quiet Title Read More

Starting a business is an exciting experience. For many people in Arizona, the best way to set up the business is by using an LLC, or Limited Liability Company. While this is certainly one of the best options in many situations, there are also some pitfalls that need to be avoided. Learning about some of the most common problems associated with forming an Arizona LLC will help get your business off on the right Read More

Arizona always had strict laws when it comes to real property taxes. The revised tax lien process is another proof of how serious the county takes this law. According to the revised process, if people can’t pay real property tax for their commercial buildings, vacant lands, or homes, the county government will lien their real property to cover the unpaid tax amounts. The government allows three years to the person to Read More

The Arizona Limited Liability Act will soon experience a major overhaul after the Governor signed the law. This act for limited liability companies will be effective immediately after August 31, 2019. However, this is for new companies. The law for existing limited liability companies will become effective from after August 31, 2020. With wholesale changes on the cards, many people want to know what they should Read More

When most people go into an LLC, they have high hopes and big plans and want to make the business a success. Sometimes things don’t work out that way and you want to walk away early. Sometimes things are working out but you reach the stage where you feel you have done everything you can with and in the business, and it’s time to split away. In the ideal world, you will have made an operating agreement that covers Read More

In accordance with Arizona law governing LLC companies, an operating agreement is not a requirement. However, this does not mean that an operating agreement is not highly recommended. An operating agreement is a verbal or written agreement that outlines how the company will be operated, the structure of the company and how profits and losses will be distributed. Although oral agreements are recognized in Arizona, Read More

Company law in Arizona is surprisingly flexible when it comes to allowing members of an LLC to withdraw. At the moment, even if there is no operating agreement, a member can withdraw simply by sending a written notice to the other members of the company. The issue of requesting the return of a capital contribution, however, is more complex. The Arizona Limited Liability Company Act of 2018 aims to simplify things. Read More

Arizona is a “no-fault” divorce state, meaning that a couple seeking a divorce in Arizona can experience a relatively easy and private dissolution of their marriage. While divorce is never truly easy on a couple, by allowing for a marriage to be dissolved if it is shown that a marriage is “irretrievably broken” the spouse filing for divorce does not need: The consent or permission of the other spouse;To air Read More