Which is better for me, dissolve the LLC or quitclaim it ?
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Which is better for me, dissolve the LLC or quitclaim it ?
My ex husband I own a LLC together with real estate in it. I have sold my real
estate interest to him and quitclaimed the deeds over to him. Is it better for me to
quitclaim the entire LLC over to him also or have him dissolve the LLC. Concerned
about liability.
Asked on April 29, 2017 under Business Law, Nevada
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Quitclaim it to him. There are scenarios where dissolving the LLC IF there is any potential liability out there against it (e.g. any unpaid bills, any fulfilled contracts, any debts, anyone injured on property it owned, etc.) could result in the members or former members (at the time the liabilty was incurred) being liable, since dissolving the LLC while there are debts, obligations, etc. outstanding could possibly be seen as an attempt to defraud creditors. Quitclaiming it to him, the LLC--and it's liabilty protection--will remain in effect.
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