Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 11 years ago,
Who can sell a property owned by a dissolved LLC?
I recently came across a property that had an LLC as the current owner on the deed. (Texas). I tracked down one of the directors and he was surprised to learn the property was still in the name of the LLC as he and the other primary director had a pretty bad falling out and he thought the LLC had been dissolved. I explained how I located him and that Title searches still show the LLC as the owner and that 'someone' has been paying the taxes for the past few years. The status of the LLC is reported as 'inactive' in state records.
So who can sell the property? Can this director sign the necessary papers? He and I are both trying to figure this out b/c he wants his name cleared from the property and he would be happy to sign the property away. I now have the contact info for the partner but not sure if I should contact him yet if we only need the first director to sign; given the sour nature of their breakup.
thanks!