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MelissaMac

Need advice, own 50% shares in a corporation

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I inherited 50% of the shares in a corporation 8 years ago. Property valued over $700,000. The corporation was a family owned buisness years ago. It is basically land with a duplex rental and some garage structures. My uncle owns the other half. We are not speaking. I have no information on this coporation except that I have the stock certificate. He is listed as the president and I am listed as the vice president. He is supposed to give me a yearly accounting of the property, but he hasn't. I need to find out information and dont know where to start. I would like to disolve the coporation, sell my shares or get rid of this entaglement. Any advice would be appreciated. I don't have money to go to an attorney at this time. Thanks in advance!

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Most states have online services for corporations, and if New Jersey does, you can find copies of all of the corporate filings with the state of New Jersey, including the by-laws.  The by-laws would itemize the powers and duties of the shareholders and officers of the corporation.  If you can't afford an attorney, why not write your uncle a letter and send it by certified mail, requesting that he buy you out of the corporation.

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