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Updated over 5 years ago on . Most recent reply
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Changing name on Property Title
Hi All,
As a preface, I do not own the company or property described below. I am simply interested in the business name and the current owners are cooperative to give it to me but I have to do all the work.
The situation is:
I'm starting a business and the business name I want is currently taken by by owners who let it dissolve in 2015. In GA, the name won't be available until 2020 (December 31, 2020). I don't want to wait and I prefer not to change the name.
I essentially plan to pay them to reinstate the business and make it active, change the name, and dissolve it. This will expedite the time in which I have to wait for the name's availability.
I reached out to the owners and they're a married couple that are retired and don't plan to use the name again. But they have a piece of real estate property registered under the business. The company was/is incorporated (vs LLC) if that helps, so they'll have to make an amendment to their articles of incorporation and legally change the name.
The advice I need is what to do with the property and what paperwork they need to make the changes to the title. Also, are there any tax consequences for changing a business name?
Their business currently has no liens, revenue, debts, or mortgages.
Please let me know if you need more info or need me to clear anything up.