to my boyfriend for $50,000. He already has the cash. (he doesnt have to obtain a bank loan) is there anything I have to do? Or should this just be a turn key? He gives me the money, I give him the business. What steps should be taken so this is done the correct way?
2006-06-08 03:55:17 · 5 answers · asked by blah 2 in Business & Finance ➔ Small Business
Draw up a simple contract, basically saying you are selling the business, all its assets etc to him.
This way you are handing over responsibility of it to him.
If you are in the UK you will need to notify companies house and HM revenue and customs that you are no longer the owner.
2006-06-08 04:02:09 · answer #1 · answered by johndillon001 2 · 0⤊ 0⤋
Make you stipulate ALL liabilities with the business transfers with the sale. If your boyfriend is insterested in on-line advertisement, visit Jaz Live Cash Culture.
2006-06-08 11:00:07 · answer #2 · answered by JazLive 2 · 0⤊ 0⤋
You need an attorney to draw up papers. Otherwise it could get messy later. Do your vendors realize that you are no longer responsible for payment on the supplies? All those accounts have to be changed.
2006-06-08 11:00:39 · answer #3 · answered by BonesofaTeacher 7 · 0⤊ 0⤋
Get a lawyer to write the necessary papers. One day he might not be your boyfriend and you will end up in court over some minor issue.
2006-06-08 11:00:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Have an attorney draft a sales contract, trust me.
2006-06-08 10:59:28 · answer #5 · answered by BobTheBizGuru 4 · 0⤊ 0⤋