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Updated over 2 years ago,

Logan Vierstra's profile image
Logan Vierstra's profile image
Logan Vierstra
  • Investor
  • from Sioux Falls, SD
  • Member since Nov 2, 2016
  • Posts 72
  • Votes 20
  • Experience 7 Yrs
  • Investments 4
Connect

User Stats

72
Posts
20
Votes
Logan Vierstra's profile image
Logan Vierstra's profile image
Logan Vierstra
  • Investor
  • from Sioux Falls, SD
  • Member since Nov 2, 2016
  • Posts 72
  • Votes 20
  • Experience 7 Yrs
  • Investments 4
Connect
Logan Vierstra
  • Investor
  • Sioux Falls, SD
20
Votes |
72
Posts
Buying & Selling Real Estate

Transferring ownership of LLC that holds property

Logan Vierstra
  • Investor
  • Sioux Falls, SD
Posted

So I've got two rental properties. Both of them are held under the same LLC, and there are 3 owners total. (Me and two other guys). The properties and the LLC are in South Dakota. We have come to an agreement for one of the partners to buy out the other 2. It seems to me the easiest way to handle it would be for me and the other seller to transfer our ownership of the LLC into the buyers name.

What documents need to be filed for this?

What are some of the mistakes I should look out for in a transaction like this? 

Sioux Falls, South Dakota
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