Legal Question in Business Law in California

corporation transfer

I have a S corp. can I transfer it to my father for $1.00, by filling out the back of the stock certificate in the corp book. It does say that"appoint ______ attorney to transfer the said shares on the share register of the within named" do you have to use an attorney?

susan


Asked on 7/26/00, 2:18 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: corporation transfer

The transfer of shares in a California non-public corporation is sufficiently complex to warrant hiring an attorney.

I should also point out that if the purpose of transfering ownership is to establish a tax loss, use of a related party such as your father doesn't accomplish the desired result.

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Answered on 9/12/00, 4:36 pm


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