QUESTION
Where can I find a templete for the transfer or assignment of LLC membership shares as a gift to a family member in Texas
Asked on Sep 30th, 2020 on Business Law - Texas
More details to this question:
My son owns 95% of shares of our LLC, I own 5% He wants to assign 90% of his iterest to me as a gift Is there a templete/form that I can use for this purpose
1 ANSWER
Civil Litigation Attorney serving San Antonio, TX
at
Brewster Law Firm
Update Your Profile
Typically there is no template or form for this. If there are certificates that represent membership interest, then the back of the certificates usually have a space for transferring them. You need to consider if there are gift taxes triggered by this gift. You also need to consider if there are restrictions on sales in the company's Operating Agreement.
Answered on Oct 19th, 2020 at 2:06 PM