Legal Question in Business Law in Ohio
I have a one person S Corp that I want to transfer ownership to my son in law for free. It is a computer repair company where ALL of the work is done in customers home and NO inventory is maintained. The company has NO assets as I am disabled and not been doing anything with the company for over a year. How is the quickest and cheapest way to transfer? I am the sole principle and maintain 100% ownership.
1 Answer from Attorneys
As a Franchise Attorney I believe the most expeditious way is to transfer your stock certificate over to him. The sole stockholder is the owner of the corporation. You should consult with a good business or franchise attorney in your area for specific advice pertaining to applicable securities law transfer requirements, etc.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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