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How to change company ownership for a single-member LLC?

How to change company ownership for a single-member LLC?

By Nina Kaufman, Esq.

Q.:  What document do I need to change who the sole member of an LLC is? A.:  The sole owner of an LLC owns 100% of the membership interests of that LLC.  What you require is called an assignment, which is a document that transfers the membership interests (company ownership) to you and states the “consideration” (what you paid in cash or kind) for the company ownership interests. You should also check the laws of your state to determine if it requires notice of this change of company ownership to be filed with the state.  Consult an attorney familiar with these transactions to prepare the proper documentation.   What other law questions do you have about company ownership and board meetings? Want to learn more about Kaufman Business Law? This is the video to watch. Watch our Video

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.