Hello,
Is a property owned by a corporation allowed to transfer a property title to a shareholder of that corporation.
My family and I are all shareholders within the corporation (25% each). There is a property which we would like to move out of the corporation and we were wondering if we could transfer the title to our individual names without having to pay again for the property (market value). Plus avoid land transfer tax etc.
Are there any real estate laws that deal with corporation and properties being transferred ?
Thanks in advance,
Jenka
Is a property owned by a corporation allowed to transfer a property title to a shareholder of that corporation.
My family and I are all shareholders within the corporation (25% each). There is a property which we would like to move out of the corporation and we were wondering if we could transfer the title to our individual names without having to pay again for the property (market value). Plus avoid land transfer tax etc.
Are there any real estate laws that deal with corporation and properties being transferred ?
Thanks in advance,
Jenka