We have the tiny sell commercial operation which my father runs. The commercial operation is right away underneath my name though right away I’m shopping the residence as well as since of the mortgage, I would right away similar to to send it to my father’s name.
So subject is how can I legally send the commercial operation to his name? I do not wish to go by the attorney as well as take it by escrow, etc. Please help…
About the business: the the wardrobe store, place is in the mall, rented. All store report is underneath my name.
Thanks in advance.
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You can have your bank draw up the paperwork for you at little or no cost.
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I have seen this “simple” transaction go awry so often it is frightening.
Hire a competent attorney to do the paperwork of servering you from all liabilities of the business and placing that with your father.
The few hundred dollars you spend (expensed to the business) will pay you back 1000 fold. I usually go the route of not using a lawyer any time I can get away with it. This is one time I would use a lawyer.
You have leases, suppliers, creditors, taxing agencies to deal with. Get it done right the first time.