tmouser
11-14-2006, 01:54 PM
:) Hello, My sister and I have inherited a house from my fathers passing several years ago. We have put the property into a LLC with the two of us being co mgrs. The property is located in another state and we have a friend of the family living there so the creation of an LLC was a good idea. I now want to sell my 50% of the house as my sister isnt quite ready to sell yet. My cousin is interested in buying my half. Do I disolve my membership in the LLC and have my cousin & husband be added on? Do they need to open up a whole new LLC with my sister? and finally how do I transfer the deed or add their names to it with my sister if they decide they would like to buy me out? I know it needs to be registered with the state there but what makes it different from a regular home sale since they are only buying into a % of the property and the house remains unsold, yet to be put on the market. Do they just cut me a check for my asking price and assume my possition? The house is completly paid off and there are no leins. Thank you for any help in this matter.