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.

Contact me directly

​Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

t e l : 2 1 2 -- 3 3 7 -- 9 8 3 7


Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.


IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any matters addressed herein.

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


Related Questions & Answers

More Business Law questions and answers in New Jersey