johnyazaro127
New Member
Hey everybody...first post, and of course: need some advice!
Here is the deal: My employer is in the land development business, and wants to dump everything she has. I see the potential for huge profits down the road, and would like to go out on my own and make them myself.
Now my Q: Can I buy a piece of land from my boss, and sell in a couple of years without her finding out that I purchased it? I ask because she is very suspicious about selling property to people she knows, because she always assumes that they have an idea about how to make more money in the future off of the property than she does. (In this case it's true, I'll admit). Forget the ethical implications...she has treated poorly on many occasions, and I wouldn't loose sleep over her loss of profits. I'm not talking about stealing or embezzlement- but I wonder if I have a fiduciary responsibility to her. I would probably be handing her the offer from my land trust, or LLC, or whatever I set up, do I have to tell her I am making the offer, or is it her responsibility to do the due diligence?
Here is the deal: My employer is in the land development business, and wants to dump everything she has. I see the potential for huge profits down the road, and would like to go out on my own and make them myself.
Now my Q: Can I buy a piece of land from my boss, and sell in a couple of years without her finding out that I purchased it? I ask because she is very suspicious about selling property to people she knows, because she always assumes that they have an idea about how to make more money in the future off of the property than she does. (In this case it's true, I'll admit). Forget the ethical implications...she has treated poorly on many occasions, and I wouldn't loose sleep over her loss of profits. I'm not talking about stealing or embezzlement- but I wonder if I have a fiduciary responsibility to her. I would probably be handing her the offer from my land trust, or LLC, or whatever I set up, do I have to tell her I am making the offer, or is it her responsibility to do the due diligence?