Joint venture, one party goes to jail
Hello,
So in 2015 my friends enter in a joint venture agreement for sale of property to renovate and flip this 4plex.
The agreement is between friend 1 and friend 2 is to put money upfront as friend 3 facilitated the deal and was going to bring in his expertise and take care of the rest.
Along with that he got a limited power of attorney along with a quitclaim deed from the owners.
Friend 3 will be unable to fulfill his part of the deal.
1. How can they separate themselves from friend 3.
What would be the next step?
Thank you,