LLC Legal Questions and Answers
Will my position listed on the LLC documents affect my rights to ownership or input to the company?
My wife & I have recently formed a corporation & purchased a business, along with the land it sits on & the building it occupies. We formed an LLC for the building & property, to protect them from anyone who might try to sue the business. We included our primary home & a rental property in the LLC also. Both my wife & I are listed as officers/shareholders of the corporation. By...
04/27/2009 | Category: LLC | State: ALL | #16193What is needed to add my wife a co owner of my LLC?
I want to add my wife to our LLC as part owner. What forms would I need? How much ownership does she need to qualify for government grants?
03/23/2009 | Category: LLC | State: Arizona | #15737Need to dissolve LLC since Partnershp has gone bad
I am a member of a LLC, my parnter is the other member. We are both own 50% of the LLC. The partnership has gone bad and I have been trying to buy him out. He is not interested. We have no signed contract between each other and we do not have a operating agreement..since he is not interested in a buyout..I have obtained a lawyer to file a petition to dissolve the LLC which i un...
03/12/2009 | Category: LLC | State: New Jersey | #15574How would I show who owns what shares in my LLC?
I started my business as a single member LLC in November 2006. On December 31st 2007, I granted 7% of the business to a partner. I want to establish that the business has 100 million authorized units with only 10 million issued. Thus I have 9.3 million units and my partner has 700,000 at this point.What legal documents do I have to produce to document this? Would this be just a...
02/22/2009 | Category: LLC | State: Washington | #15328Can a business be sued for the individual owner's personal debt?
If an individual has a pre-existing debt and they open a business as an LLC, could the LLC be sued to collect that debt even though the LLC is a separate business entity?
02/18/2009 | Category: LLC | State: Pennsylvania | #15285What forms are needed to sale our shares of the LLC since we are resigning?
My wife and I hold 50% of the stock of our LLC with a third person holding the other 50%. We want to sell our shares to our partner and resign from the LLC. We formed this LLC to buy a building that we shared as the two tenants for our respective businesses. Since the formation of this LLC my wife and I have closed our business and we have refinanced the building loan to remo...
02/16/2009 | Category: LLC | State: Georgia | #15258Does an LLC protect my investment from the bankruptcy court?
I would like to form a corporation or LLC (preferably LLC) prior to declaring personal bankruptcy. Does an LLC protect my investment from the bankruptcy court?
02/03/2009 | Category: LLC | State: Florida | #15133We currently have a LLC for a real estate business. 3 members (siblings). My question is if one of the members is convicted...
We currently have a LLC for a real estate business. 3 members (siblings). My question is if one of the members is convicted of a crime, can the LLC be vulnerable?
08/24/2007 | Category: LLC | State: New York | #8189Is there any liability concern about listing your home residence as the business address?
My partner ans I want to form an LLC for our Internet Publishing Company. We need to register a physical address. Is there any liability concern about listing your home residence as the business address? Also, must we buy liability insurance for our business right away?
07/11/2007 | Category: LLC | State: West Virginia | #7091Can I force the sell of my husband's LLC?
Can I force the sell of my husband's LLC? Supporting LLC debts for 4 years has ruined us financially. He used all our retirement funds, children's college funds, taken out 7 credit cards and maxed them all out, used all equity in house, my health insurance was cut off due to nonpayment, uses all his income for LLC expenses, and has managed to put all accounts (credit cards, ch...
05/14/2007 | Category: LLC | State: California | #4696