Legal Question in Business Law in Ohio

Yes probably. As an LLC, it is important to maintain the separation between personal and business assets. If the company paid for the van, either through credit/loan in its name or money from its bank account, then the van is an asset of the company and therefore should be titled and insured as such.

The other big reason to make sure the van is in the name of the company and not you individually is that if the van is involved in an accident when driven by an employee or someone else besides you, you could be held liable for any injuries or damages if the van is in your name. Having the van titled in the company's name will force potential plaintiffs to go after the company rather than you personally (if you are driving the van and at fault, then you could still be personally liable for injuries or damages to other parties).

Hopefully this answered your question. If you have any further questions or would like to discuss your situation in more detail, feel free to contact me.

Yes, I would change ownership of the van to the company. That way, if an incident occurs with the van, no one will attempt to hold you personally liable. Plus, if a dispute arises later re whether your business is legitimate, the fact the van is in your name but used for business purposes could be used to pierce the corporate veil. My office assists small business owners on a variety of matters. Please contact me to discuss further at no charge.

Vaseem S. Hadi

www.rendigs.com