Legitimacy of Acquiring Aged Corporations

[Josh Crown]

Greetings fellow members! I'm considering acquiring an aged corporation and want to ensure its legality and compliance with regulations. Are there legal and regulatory aspects one should be mindful of when purchasing an aged corporation? Your expertise and advice would be highly valuable.

[Don Konipol]

Quote from @Josh Crown:

Greetings fellow members! I'm considering acquiring an aged corporation and want to ensure its legality and compliance with regulations. Are there legal and regulatory aspects one should be mindful of when purchasing an aged corporation? Your expertise and advice would be highly valuable.

When you acquire a corporation you’re acquiring it with ALL its history.  You can get seller guarantees but that’s only as good as the seller is able and willing to act.  At a minimum have an attorney run a thorough search of public records database.  You may be surprised at what turns up.
This is a different animal from acquiring a special purpose vehicle set up for the acquisition of a single property and having no other dealings.  This is what’s known as a “clean” corporation.  What you’re describing MAY be anything but.