My LLC is a single member LLC- 100% ownership is mine. I would like to transfer complete ownership to someone else (relative). Can I just make a transfer document and do it or do I have to redraft the operating agreement?
What other requirements are there for transfer?
You’re going to need to do the following:
1. Assign your interest in the LLC to the buyer.
2. Amend the Operating Agreement to add the buyer as a member and remove the seller as a member.
3. Amend the Articles of Organization with the state (only some states require this, for example, Arizona does).
4. Draft a resolution of the members of the LLC approving the sale of the interest.