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Transferring Properties out of LLC Question
Quick Question to the group:
lets say you have a LLC which owns properties - call it Property LLC.
Property LLC is owned by Holding LLC
Holding LLC is owned by Jane Doe.
If you were shutting down the LLC and wanted to just put the property in the name of Jane Doe who owns the holding company who owns the LLC.
Do you actually need to transfer monies back and forth or would this be done by a journal entry as a non cash distribution?
- Chris Seveney
7e investments
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