Q: We have a signed contract to buy a property from an LLC (from Florida) but the LLC is inactive. is this possible in NC?
They, the LLC, says that it will cost them $3k to reactive their LLC and they don't want to.
A: Technically, the LLC is not authorized to conduct business but it may be that they are dissolving so they do not wish to continue operations. While the company is dissolving the company may carry on by closing up the business, this would include selling off assets. In addition, an unauthorized company can generally remedy this and it becomes retroactive. To protect yourself, I would have both the LLC and its individual members sign off on any transfer or you should obtain something from the company where the members authorize the transfer.
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