0

An LLC that I'm a member of, purchased a property from a Trust. The trustee is also a member of the new LLC (we already have the Trust attorney involved to avoid conflict of interests issues).

The property was a Bnb (rented through Airbnb and Vrbo) and the trustee was the online accounts manager.

The purchase contract did not mention the online accounts. I'm afraid that the contract, besides mentioning the purchase of the property, should have mentioned also the purchase of the existing business (existing ratings, reviews, etc).

So I have 2 questions/concerns:

  1. Pre-bookings. The online account already had some pre-bookings for the future. This money got transferred by the trustee to the new owners without it being mentioned in the sale contract. Could this trigger a lawsuit from the other members of the Trust, if they find out? Is the trustee the only liable party or also the whole (members-managed) LLC?

  2. Could the fact that the Airbnb/Vrbo accounts were not mentioned in the sale contract cause issues if the trustee now continues using them for the new LLC?

3
  • While an interesting question, I'm dubious whether contract and trust law is on-topic. Especially when we're Random Strangers On The Internet.
    – RonJohn
    Feb 7, 2021 at 7:02
  • RSOTI for the win!
    – Gabe
    Feb 7, 2021 at 7:18
  • According to both Airbnb and Vrbo the accounts cannot be sold/transferred. But in this case the account manager remains the same person so it's tricky..
    – Gabe
    Feb 7, 2021 at 7:21

0

You must log in to answer this question.