If My LLC Has Changed its Business Focus Since the Original Filing, Must I File Again?

When filing for Limited Liability Company status with a USA state, the Articles of Organization that are filed with the Secretary of State may ask the filer to state a specific purpose for the business — e.g. ” medical supply and device supplier.”

But over time, the focus of a business may change, sometimes completely. Does such a change in business focus affect the validity of the LLC or its filing with the state?

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Can I Quitclaim My Half Interest in a Land Contract to My Buyer Partner?

In most cases concerning Land Contracts, title to real property does not pass to the purchaser until all or a certain percentage of the land contract installment payments are made.

Until such time, the purchaser (or a partner-purchaser) does not hold any title or ownership in the property.

As such, if the purchaser does not hold ownership, he/she has no ownership interest in the property that can be transferred by way of a Quitclaim Deed.  In essence, a drafted Quitclaim Deed would be meaningless because a person cannot “transfer ownership” of something he or she does not own.

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