Certificate of Conversion From Delaware or Non-Delaware Corporation To Delaware Statutory Trust
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How to fill out Certificate Of Conversion From Delaware Or Non-Delaware Corporation To Delaware Statutory Trust?
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FAQ
One of the biggest challenges for 1031 Delaware Statutory Trust investors is that the IRS and Congress have set strict regulatory constraints on all 1031 exchanges. It can be difficult to ensure your 1031 exchange is compliant with IRS guidelines, and failure to do so could incur financial and legal penalties.
Statutory trusts involve real property that is held by a trustee with the intention of selling. Any profits from the real property including rent and sale profits go into the trust. These profits are then paid to the benefactors of the trust. This process is regulated by the Uniform Statutory Trust Entity Act (USTEA).
A Certificate of Conversion is the document filed to effectively change from one entity type to another with Delaware's Division of Corporations. The filing must specifically state the following: The original LLC name. Date and State the LLC was first created.
A DST is formed by filing a certificate of trust with the Office of the Secretary of State of the State of Delaware. This certificate states only the name of the trust and the name and address of the Delaware trustee.
The fee to file the Certificate of Conversion is $164.00 for a 1 page document. Please add $9 for each additional page. A Certificate of Incorporation is required to be filed simultaneously with the Certificate of Conversion. Enclosed for your convenience, please find a form for a Stock Certificate of Incorporation.
Does Delaware allow statutory conversions? Yes, Delaware does allow statutory conversions. To convert from an LLC to a C corporation, you will need to file a Certificate of Conversion and a Certificate of Incorporation with the Delaware Division of Corporations.
Delaware Statutory Trusts typically require a minimum investment of $100,000, and an investor can acquire or exchange into ownership in one or multiple DSTs. DST real estate is generally held for 3 to 10 years.
Fees For Establishing a Delaware Statutory Trust This certificate has a $500 filing fee. Although that's all the financial commitment the state requires to establish a Delaware Statutory Trust, the heavy financial lifting is in the assets placed under trust.