Q: How do I transfer legal ownership of my business from me to someone else
Operating in NY
A: Depends how you own it now, and what deal you have struck for the transfer.
A: There are various ways to convey your ownership interest to another party. What's essential in the transaction is to avoid or minimize your liability after the transfer of your interest. What's called "due diligence" will play the key role in the process. Some people try to sell their stocks (in case of corporation) to the new owner(s), but that will never be recommended. The safest way to achieve your goal can be through the transaction of "business assets sale" depending on the type of your business and your priority, etc. Your attorney will thoroughly explain how this will be done.
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