After entering real estate with family assurances and a 50/50 split, my father withheld deals. Is this a hard lesson in business and family loyalty?
I encountered a similar situation where family expectations and business proceedings clashed. In my own experience, initial verbal agreements didn’t hold strong as the transactions progressed, causing frustration and a need for stricter formal agreements. It became clear that clarity at the outset, with detailed documentation and legal input, is crucial to avoid such misinterpretations. The experience taught me the importance of defining terms and responsibilities in writing from the beginning, and ensuring all parties are committed to those protocols.