Transferring LLC ownership when getting a divorce?

[Shane Moss]

Hello Everyone,

Unfortunately, I am going through a divorce. My wife will not be keeping either of the two rental properties and I need to make sure our 50/50 partnership is dissolved.

I know I need to do something with the operating agreement to get her name off of it. I'm just not sure the best way to go about doing this. The only thing the operating agreement states in regards to one member leaving, has to do with refunding the initial capital of that partner.

Is there a generic form on the Interent with the proper legal jargon that we can sign and attach to the original operating agreement?

One more thing... Both of the properties are titled in the business name. As such, I'm assuming nothing needs to be done here once the business is soley in my name. Is that correct?

Thanks!

Shane