L&G Law Group Concludes Family Business Transfer Agreement

L&G concluded a restructure of family interests in two real estate land trusts as well ownership interests in a family owned Hispanic grocery. The family members wished to realign their ownership interests based on their changing business focus. One member of the family transferred his minority interests in two land trusts to another family member to enable that other family member to focus on the ownership and operation of the businesses at those two locations. The transaction also enabled one family member to take complete ownership of ethnic neighborhood grocery so that member could devote exclusive attention to the growth and success of that business.”