All Forum Posts by: Emilie Pa
Emilie Pa has started 3 posts and replied 8 times.
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
Quote from @Katie Balatbat:
The answer may be a bit more involved than you're aware, depending on if your language of the company "selling" to you is correct, or whether the company is dissolving and distributing its assets to the shareholder. Either way, there could be taxes to pay and you'll want to run that by your CPA for sure. As to the actual transfer document itself/deed transferring ownership, that would likely be an attorney's task. If your corporate attorney is not able to handle it, you may wish to find a corporate attorney in CA to work alongside your corporation's attorney, unless the CA attorney is also familiar with Canadian laws. If you feel comfortable drafting the deed yourself and going to the County Recorder to record, you may be able to do it that way, but be wary of unnecessarily screwing up the chain of title or marking something incorrectly, as often happens with DIY projects in the legal world.
*This post does not create an attorney-client or CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.
Thank you for the answer. I'll look with the title agent.
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
Quote from @Peter Walther:
Assuming your corp received a title policy when it acquired the property, you could go back to the attorney or title agent that handled that closing and ask them 1. can they prepare the deed; 2. can they issue an endorsement to the policy changing the name of the insured to you as the Grantee.
Thank you so much. That is very helpful. I didn't think about the policy change. I'll contact the title agent!
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
It would be the equivalent of a C-Corp in the US.
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
It would be the equivalent of a C-Corp in the US.
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
Hello everyone,
My Canadian company owns a residential property in California and I want to sell it to my own personal name as I am closing my company.
I don't know which professional to consult to help me do the transfer besides my CPA.
Can I do the transfer of the deed myself (going to the County Recorder’s Office) and just check with my CPA for taxes due?
As it's me to me, I wouldn't need title search and title insurance and such. I own 100% of my corporation. I don't think there is going to be capital gain.
Or should I go through an Escrow company or a Title company anyways or another professional for some reason?
Thank you so much for your help!
Post: Which professional to contact for transfer of property
- Posts 8
- Votes 2
Hello everyone,
My Canadian company owns a residential property in California and I want to sell it to my own personal name as I am closing my company.
I don't know which professional to consult to help me do the transfer besides my CPA.
Can I do the transfer of the deed myself (going to the County Recorder’s Office) and just check with my CPA for taxes due?
As it's me to me, I wouldn't need title search and title insurance and such. I own 100% of my corporation. I don't think there is going to be capital gain.
Or should I go through an Escrow company or a Title company anyways or another professional for some reason?
Thank you so much for your help!
Post: Best Retirement accounts for international coast fire
- Posts 8
- Votes 2
Thank you so much to both of you. It's very helpful and giving me a lot to think about!
Post: Best Retirement accounts for international coast fire
- Posts 8
- Votes 2
Hello! I'd love some input on what to do:
I am a 40 yrs with a stock market investments of 350K trying to coast fire in the next couple of years.
I just got a green card and moving to the US from Canada and looking at which accounts to invest that money in the US.
But I am not sure I will stay in the US in 10 or 20 yrs.
What do you think would be the best strategy to coast fire when you are not sure where you are going to be in your later years? I might go back to Canada eventually or move to another country in 10, 20 yrs… Who knows!
What do fire people do if they are not sure where they want to retire in 10-20 yrs? I'm afraid to put the money in a tax-advantaged retirement savings plan if I decide to move and it stuck in there.
Thank you!