Legal Question in Business Law in New Jersey

How to transfer ownership of a single member llc to a relative

Asked on 3/12/19, 11:56 am

1 Answer from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

You need to enter into a specific agreement with your relative to transfer (sell) your membership interest to them. In addition, the company (i.e. you) would need to enact corporate resolutions to effectuate the sale and transfer of management responsibilities, and you would need to file the relevant tax forms.

Because this is a one member LLC the paperwork should be straightforward and affordable.

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​Roman R. Fichman, Esq. │ @TheLegalist

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Answered on 3/12/19, 12:39 pm

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