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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? |
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There is no answer at this time. |
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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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