Assignment of LLC Interest Form Sample

By Susan Lassiter-Lyons | Real Estate

Looking for an Assignment of LLC Interest form? You've come to the right place!

Click here to download ours for FREE right now

Screen Shot 2016-05-20 at 1.16.58 PM

I get asked a lot what to do when you have a partner in an LLC that wants out.

First, you punch him. (Just kidding. Or not.)

I just have him assign me or a new partner his interest in the LLC for a fee and we sign an Assignment of LLC Interest form. Yep, in most cases it really is THAT easy.

TIP: This form also works if you want to flip a HUD contract. Since they are not assignable, you can bid in an LLC and if you win assign it by assigning the LLC. Sweet!

So, click here to download your form and start assigning some interests!

Investor Insights ELITE Member Extra

Access your Forms & Contracts center in Investor Insights ELITE.
More than 50 forms, contracts and fill-in-the-blank documents are waiting for you.
Click here to access your Forms & Contracts Center
Not an ELITE member? Click here to learn moe about Investor Insights ELITE

Remember, we're not lawyers so these free real estate forms are provided for educational purposes only. If you decide to use them, make sure you have a competent legal professional give you the thumbs up! For more info see our website terms and conditions of use.

Leave a Comment:

(15) comments

Stephen Villard

It appears that your download process is broken. When I click on your little yellow pop-up, I get transferred to the original download page.

Please advise.

My pop-up blocker is not on.

Reply
Keith Mace

Susan, I’m guessing that this work best for SFR’s as opposed to commercial re.
So, do you have some suggestions on the best way one could ‘wholesale’ CRE/MFU’s (multi family units)?
I mean, would you have to structure the LOI a certain way; or is there other paperwork involved when you bring a CRE deal to another investor – where you can simply get an acquisition fee and possibly an equity position and possibly a spread on the monthly cash flow?
Additionally, how would one show the seller POFs when the intention is to ‘wholesale’ the deal?
Thanks!

ps. any advice, or direction to people who are doing this, would be greatly appreciated.

Reply
    Susan Lassiter-Lyons

    Not necessarily. There are a lot of reasons why partners want out of LLC’s. Within real estate we see it in residential deals, commercial deals even syndications.

    This specific form is a great way to flip the unassignable contract such as HUD when wholesaling residential real estate. Most commercial contracts don’t have that restriction.

    Nothing different about the LOI – remember you are assigning a contract not an LOI in commercial wholesaling.

    You should check out my Wholesaling Pro program where I teach wholesaling residential and commercial in depth: https://wholesalingpro.com

    Reply
Angela

Hi Susan,

I submitted my name and email to get the free from but keep showing the email,name window without downloading the form. This is for the assignment of LLC interest.
Please check the website maybe the link was deleted, will be nice if you can forward the sample. Thanks much.

Angela

Reply
Mary C.

Don’t see the Assignment of LLC interest form link to download sample? Is it available?

Reply
    Susan Lassiter-Lyons

    Yep. Just click on one of the two links above.

    Reply
AD

How can this work if the partners are in different states? Do i need them all to be present together to get it notarized?

Reply

Please note that before you do the “Assignment of LLC Interest” you need to read the Operating Agreement to be absolutely sure that it allows you to do this type of short form assignment. You can only do what the Operating Agreement allows or amend the Operating Agreement.

Reply
Jay

Does the EMD come from my buyer?

How would the pof to the REO bank be presented if the contract is in the name of an LLC? My experience is the bank pof as a bank statement in the name of the person or LLC the contract is under. Most REO fixer-uppers are cash offer deals. They don’t accept simple pof letters from transactional funding lenders.

Reply
    Susan Lassiter-Lyons

    Not usually. I’ve always put up the earnest money to get the property under contract. RE: the POF. Then get verifiable POF or bank deposit verification.

    Reply
Lynn

Working with Susan is so much fun. Making money helps too.

Reply
Joe

So how do i dl the form?

Reply
    Susan Lassiter-Lyons

    Just print or save directly from the enbedded form.

    Reply
      mike

      The download doesn’t work

      Reply
grady corbin

New member here. .. . very much excited about having your help. . .having good success in re investing..need some grounding and direction, especially with private lenders.thanks so much
rich

Reply
Add Your Reply

Leave a Comment: