Legal Question in Business Law in California

Depends on whether or not you properly maintained the S-Corp, and what you do with any remaining assets of the corp.

The assets of the Corporation (either cash or property) are supposed to be used to satisfy creditors first before being distributed to shareholders/owners. If not then you can be personally liable to creditors of the corporation up to the amount of any assets you receive. There are formalities for closing a corporation, including giving notice, that should be followed. It is best to consult with an attorney in order to avoid potential liabilities following you.