California Deed of Rescission - Corporation to LLC

• Category: California Real Estate - Deeds - Rescissions
• State: California
• Control #: CA-SDEED-8-34
• Format: Word; Rich Text

Description

This form is a Deed of Rescission, with mutual consent of all the parties, returns ownership of property to the previous owner as if the sale or transfer of property had never occurred. A corporation signs the deed to return ownership to a limited liability company (LLC) who previously owned it. California Deed of Rescission — Corporation to LLC is a legal document used to convert a California Corporation to a California Limited Liability Company (LLC). This document is used to cancel any prior agreements between the entity and its shareholders, and to transfer the rights and obligations of the corporation to the LLC. It is also used to transfer all assets and liabilities of the corporation to the LLC. The document is commonly used when a business wants to change its corporate structure to an LLC in order to take advantage of the benefits of this type of business structure. There are two types of California Deed of Rescission — Corporation to LLC documents: Standard Deed of Rescission (which is for general purposes) and Special Deed of Rescission (which is used in specific situations). The Standard Deed of Rescission is used to revoke the corporation's Articles of Incorporation and dissolve the corporation, while the Special Deed of Rescission is used in cases where the corporation's Articles of Incorporation are not being revoked. Both documents are used to transfer the corporation's assets and liabilities to the LLC, and to name the LLC as the successor to the corporation.

California Deed of Rescission — Corporation to LLC is a legal document used to convert a California Corporation to a California Limited Liability Company (LLC). This document is used to cancel any prior agreements between the entity and its shareholders, and to transfer the rights and obligations of the corporation to the LLC. It is also used to transfer all assets and liabilities of the corporation to the LLC. The document is commonly used when a business wants to change its corporate structure to an LLC in order to take advantage of the benefits of this type of business structure. There are two types of California Deed of Rescission — Corporation to LLC documents: Standard Deed of Rescission (which is for general purposes) and Special Deed of Rescission (which is used in specific situations). The Standard Deed of Rescission is used to revoke the corporation's Articles of Incorporation and dissolve the corporation, while the Special Deed of Rescission is used in cases where the corporation's Articles of Incorporation are not being revoked. Both documents are used to transfer the corporation's assets and liabilities to the LLC, and to name the LLC as the successor to the corporation.