I'm going through a divorce. What happens to my auto shop?
A divorce can put the shop and the building on the table. You may end up keeping it, buying out your spouse's share, or selling. Your lawyer will guide the legal side. This page is about the shop side.
If this sounds like youEverything feels out of your hands right now. The shop might be the one thing you built yourself, and you don't know if you'll get to keep it.
What you can do.
Keep the shop and buy out your spouse
Lets you keep running it, but you'll need the money to do it.
Sell the shop and split the proceeds
A clean break, but you lose the business.
Sell the shop, keep the building
Rent can help either side going forward.
Wait and decide later
Sometimes possible, but ask your lawyer first.
What to watch for.
- Talk with your own divorce lawyer before you talk to any buyer.
- Keep the shop running well. A busy, steady shop is worth more.
- Keep your team out of it as much as you can.
Owner to owner, and it stays private.
If selling becomes the right move, Lotus buys shops and their buildings in Massachusetts and Connecticut and keeps the team and the name. We move at your pace and keep it private. James is glad to talk when you're ready.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Do I have to sell my shop in a divorce?
Not always. It depends on your situation and your state's rules. Ask your own lawyer.
Can a sale stay private during a divorce?
A private sale to one buyer keeps it quiet, but your lawyer and your spouse's lawyer may need to see the details.
Thinking about what comes next for your shop or building?
Reach out and we’ll talk it through. No pressure, and the conversation stays private.
james@lotuspe.us