My family owns a 1000 acre farm that is a c Corporation. I am a shareholder in the corporation, albeit a small holder. My fiance and I would like to build a home on some of the property, about 2 acres. Does the property being held in a c Corporation make it impossible to build? Or is this something decided in individual states? If anyone has any suggestions, I would appreciate it. I don't even know who to talk to. A lawyer? An accountant?
Thanks.
2007-06-06 05:39:39 · 2 answers · asked by Jacky L 2 in Business & Finance ➔ Corporations
It is up to the shareholders of the C-Corp. What are the bylaws of the C-corp? Maybe just a simple majority is needed to grant permission, maybe a 2/3rds majority. Who knows.
Probably need to speak with a lawyer AND an accountant.
2007-06-06 05:48:13 · answer #1 · answered by 2007_Shelby_GT500 7 · 0⤊ 0⤋
Depending on the structure of the corporation, this decision will be up to either the management of the corporation or its board of directors. Talk to them first.
2007-06-06 05:48:00 · answer #2 · answered by TG 7 · 0⤊ 0⤋