Q: If I own land that is in an LLC with two people, me and the other person, can they sign the land over to themselves?
Could they do anything with the land without my signature? Such as transfer it to their own personal name or sell it without my knowledge? We both have 50% ownership in the LLC
A: This depends in part on the Operating Agreement of the LLC. Does one of the others act as a managing member? What are the powers vested in members to sell assets of the LLC? IS the approval of all needeed?
Anthony M. Avery agrees with this answer
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