Legal Question in Business Law in Ohio
Stock Transferr
We Have a small family business, which is a family owned corporation. He had a stoke and wants to transfer his stock to me. Because he is almost 80 and is not active in the business any longer. He is giving the stock at no cost or should we put a small price down?
What would be the best form to use or do you have one that is not listed.
Also he want so to Assign other business and real estate that is attached to a business to me. should we use the Ohio Contract Assignment?
Thank you very much
--name removed--Mowell
1 Answer from Attorneys
Re: Stock Transferr
It is not clear who had a stroke. You should talk to an attorney because there are different ways to handle the transfer. You have to watch the tax implications: income, estate and gift taxes. I would be leery of using form documents and trying to do it yourself.
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