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Q: Forgot to file articles of organization for LLC. ( No Answer,   1 Comment )
Question  
Subject: Forgot to file articles of organization for LLC.
Category: Business and Money > Small Businesses
Asked by: mtw-ga
List Price: $50.00
Posted: 24 Aug 2005 21:06 PDT
Expires: 23 Sep 2005 21:06 PDT
Question ID: 560097
Last year I bought a vacant lot for $8,000 and titled it to a LLC. I
made the mistake of not getting around to filling out the articles of
organization to create the entity and recently another person has
formed the LLC that my lot is titled to. I'm guessing this was done
intentionally after they noticed the articles weren't filed but have
no way of knowing for sure.
	I was wondering if I'm going to have a problem when it's time to
sell? Can this person actually claim to be the owner of the company
that owns this lot or am I worried over nothing?
	After many hours of searching on the web I can't find other cases of
this happening other than when a company let's it's charter expire and
creditors then file to recreate the company and claim it's assets. Of
course those were corporations and not LLC's if that makes a
difference.
	I mentioned this to my usual title attorney and he seemed to look a
little nervous while telling me not to fret over it. Yes, he prepared
the deed. Is he potentially liable for not checking to see if my
company actually existed before doing this?

	Now to my question. Since I know these things are state specific, can
someone point out a case in Ohio of someone actually losing their
property in this fashion?
Answer  
There is no answer at this time.

Comments  
Subject: Re: Forgot to file articles of organization for LLC.
From: taxmama-ga on 30 Aug 2005 08:38 PDT
 
Dear mtw

Your title company should darn well be nervous.

They insured title to a non-existent company. 

Have the title company issue corrected title information
and correct the name of the entity who owns the property. 

The title company should have insisted that you file the 
articles and set up the LLC and get the state ID number for it
before issuing a title policy. 

Get them to help you. 

Otherwise, if you lose the property, 
they may just have to pay you for it. 

Best wishes

Your TaxMama-ga

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