Wilmington North Carolina Transfer of Assumed Name for Partnership, Sole Proprietorship or Limited Partnership

• Category: North Carolina Small Business - Sole Proprietorships
• State: North Carolina
• City: Wilmington
• Control #: NC-896N
• Format: Word; Rich Text

Description

This form requests information concerning the assumed name being transferred, the names and addresses of the transferees, and where the certificate was originally filed. The Wilmington North Carolina Transfer of Assumed Name for Partnership, Sole Proprietorship, or Limited Partnership refers to the process of transferring the use of an assumed name from one entity or individual to another within the jurisdiction of Wilmington, North Carolina. This legal procedure is designed to ensure transparency and accountability in business operations by recording and documenting any changes in ownership or control over the use of an assumed name. An assumed name, also known as a "Doing Business As" (DBA) or a fictitious name, is a trade name under which a business operates that is different from the legal name of the individual or partnership involved. This transfer process is particularly relevant when an existing business entity is sold or when partners within a partnership change or dissolve their legal arrangement. To initiate a Wilmington North Carolina Transfer of Assumed Name, several steps must be followed. First, the current owner or partners who wish to transfer the assumed name must complete the appropriate forms provided by the Wilmington County Clerk's office. These forms typically require detailed information about the current owner(s), the new owner(s), and the assumed name being transferred. The transfer of an assumed name may vary depending on whether it is for a partnership, sole proprietorship, or limited partnership. Therefore, it is important to differentiate between them. 1. Partnership: In the case of a partnership, where two or more individuals work together and share profits and losses, the transfer of an assumed name requires the signature and consent of all partners involved, both current and new. This ensures that all parties are aware and agree to the change in ownership and continue to adhere to any legal obligations associated with the assumed name. 2. Sole Proprietorship: For a sole proprietorship, which is a business structure where a single individual owns and operates the business, the transfer of an assumed name requires the sole proprietor to transfer the rights and responsibilities associated with the assumed name to the new owner. This typically involves a written agreement or contract between the current and new owner outlining the transfer terms and any stipulations. 3. Limited Partnership: In the case of a limited partnership, involving at least one general partner who manages the business and one or more limited partners who invest capital, the transfer of an assumed name may require further consideration. Depending on the partnership agreement, there may be specific provisions governing the transfer of an assumed name, including the need for consent or approval from other partners. Once the appropriate forms are completed and signed by the transferring parties, they need to be submitted to the Wilmington County Clerk's office along with the applicable filing fees. The Clerk's office will review and process the transfer request, ensuring its compliance with local laws and regulations. It is crucial to note that the specific requirements and procedures for the Wilmington North Carolina Transfer of Assumed Name may be subject to change or amendment as per the jurisdiction's regulations. Therefore, it is always advisable to consult the official resources and seek professional legal advice to ensure the accuracy and compliance of the transfer process.

The Wilmington North Carolina Transfer of Assumed Name for Partnership, Sole Proprietorship, or Limited Partnership refers to the process of transferring the use of an assumed name from one entity or individual to another within the jurisdiction of Wilmington, North Carolina. This legal procedure is designed to ensure transparency and accountability in business operations by recording and documenting any changes in ownership or control over the use of an assumed name. An assumed name, also known as a "Doing Business As" (DBA) or a fictitious name, is a trade name under which a business operates that is different from the legal name of the individual or partnership involved. This transfer process is particularly relevant when an existing business entity is sold or when partners within a partnership change or dissolve their legal arrangement. To initiate a Wilmington North Carolina Transfer of Assumed Name, several steps must be followed. First, the current owner or partners who wish to transfer the assumed name must complete the appropriate forms provided by the Wilmington County Clerk's office. These forms typically require detailed information about the current owner(s), the new owner(s), and the assumed name being transferred. The transfer of an assumed name may vary depending on whether it is for a partnership, sole proprietorship, or limited partnership. Therefore, it is important to differentiate between them. 1. Partnership: In the case of a partnership, where two or more individuals work together and share profits and losses, the transfer of an assumed name requires the signature and consent of all partners involved, both current and new. This ensures that all parties are aware and agree to the change in ownership and continue to adhere to any legal obligations associated with the assumed name. 2. Sole Proprietorship: For a sole proprietorship, which is a business structure where a single individual owns and operates the business, the transfer of an assumed name requires the sole proprietor to transfer the rights and responsibilities associated with the assumed name to the new owner. This typically involves a written agreement or contract between the current and new owner outlining the transfer terms and any stipulations. 3. Limited Partnership: In the case of a limited partnership, involving at least one general partner who manages the business and one or more limited partners who invest capital, the transfer of an assumed name may require further consideration. Depending on the partnership agreement, there may be specific provisions governing the transfer of an assumed name, including the need for consent or approval from other partners. Once the appropriate forms are completed and signed by the transferring parties, they need to be submitted to the Wilmington County Clerk's office along with the applicable filing fees. The Clerk's office will review and process the transfer request, ensuring its compliance with local laws and regulations. It is crucial to note that the specific requirements and procedures for the Wilmington North Carolina Transfer of Assumed Name may be subject to change or amendment as per the jurisdiction's regulations. Therefore, it is always advisable to consult the official resources and seek professional legal advice to ensure the accuracy and compliance of the transfer process.