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Updated over 7 years ago, 09/05/2017

User Stats

17
Posts
1
Votes
Matt Walden
  • Rental Property Investor
  • New York City, NY
1
Votes |
17
Posts

S-Corp Conversion to LLC Help

Matt Walden
  • Rental Property Investor
  • New York City, NY
Posted

When I first started out about 15 years ago my business partner put two properties into an S Corp. The two properties are owned outright no debt. My question is how can I convert this into an LLC? I realize now it never should have been an S Corp but I need to get creative here>

Can I simply sell to a  new entity? Should I mortgage to the maximum and then transfer to a new entity? Any advice is welcome.

The S Corp is a Delaware Entity

The properties are in Florida and Minnesota

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