2 person LLC - who signs docs at COE?

3 Replies

Do both managers (50%/50%) need to sign docs when selling?  Right now the title company is saying only one of us needs to.

FYI, we both had to sign when purchasing the subject property.

Any advice is much appreciated!!

You need to create an LLC resolution that legally authorizes one of the members to signed all COE docs. The one we use is a simple one page signed by myself and the other member of our LLC.

Monte Largo, LLC hereby authorizes the purchase/sale of Subject Property. We further instruct and authorize Victor Argueta to sign on behalf of the Monte Largo, LLC any documents necessary for the purchase of this property. (this doc is signed by both members)

Cheers

Originally posted by @Eric Mun :

Do both managers (50%/50%) need to sign docs when selling?  Right now the title company is saying only one of us needs to.

FYI, we both had to sign when purchasing the subject property.

Any advice is much appreciated!!

This should be covered by your LLC formation documents. You would have needed to appoint an authorized representitive(s) that could sign on behalf of the LLC, if you have not done that then generally both signatures would be required. Really all signature guidelines are only as strict as the scrutiny. If we sign a contract and both uphold the agreement, generally the validity of the contract would never come up. If you think you need to have your bases completely covered have an attorney review your LLC documents and give a recommendation.

Attorneys are like doctors, you really don't to have one, and you prefer not to see them all the time. But once you find one you trust, they make most interactions pleasant and easier.

Adam

Wow! Great answers! Thank you both for such a quick response. :)

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