Legal Question in Business Law in Ohio

I belong to an LLC which contains 2 income properties. I would like to withdraw for one of the properties and get paid out. Is it possible to just withdraw from one.


Asked on 8/21/14, 9:51 am

1 Answer from Attorneys
J. Norman Stark J. Norman Stark , Attorney, Architect

Dear Inquirer: ANSWER: YES. The LLC may, by a written agreement, signed by the Managing Member, sell or transfer one of its properties, etc. And you must record the deed reflecting such transfer, for consideration, with the County Recorder of the County in which the property is located.

Cntact and retain an Attorney to advise and prepare the proper documentation.

Good luck. Sincerely,

J. Norman Stark, Attorney / Architect Emeritus

1109 Carnegie Avenue

Clevelsand, Ohio 44115

(216) 531-5310 x 7100. .

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Answered on 8/22/14, 7:01 am


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