BUY-OUT OF MEMBER ELEVEN YEARS AFTER MEMBER’S DEATH

Peter Mahler’s latest post—as usual, an excellent one—addresses a very recent New York appellate decision concerning a potential buy-out of a deceased member of a real estate holding company LLC—11 years after the member’s death!   The facts are weird but the case nevertheless holds many lessons for LLC lawyers drafting buy-sell provisions for deceased LLC members.

Here’s the link:

https://www.nybusinessdivorce.com/2019/11/articles/operating-agreement/llc-survives-members-death-dissolution-petition-doesnt/