Transfer of Liabilities

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» Transfer of Liabilities

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Oct 12, 2006, 05:41 AM

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GaleDudley is offline

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Transfer of Liabilities

How can a LLC transfer liabilities to a Corporation? They have the same owner.

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Oct 12, 2006, 07:50 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	That is funny, seeing that a corporation has limited liability, but that does not exist for the general partner(s) in a LLC. If the LLC owed my company money, they owe it. If you wish to transfer, have the corporation take out money, and give it to the LLC. Then have the LLC pay off the debt to my company. Now, the original debt is gone and the corporation owes money to someone for the amount.

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