Assignment of LLC Interest Form Sample

August 21, 2009 8 Comments

This week’s free forms download is an Assignment of LLC Interest form.

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, download your form and start assigning some interests.

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.

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8 Responses to “Assignment of LLC Interest Form Sample”

  1. grady corbin Reply August 21, 2009 at 1:50 pm

    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

  2. Joe Reply August 21, 2009 at 2:54 pm

    So how do i dl the form?

  3. Lynn Reply August 24, 2009 at 9:58 am

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

  4. Jay Reply September 9, 2010 at 10:56 pm

    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.

    • lassiter Reply September 10, 2010 at 8:13 am

      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.

  5. Carolita Oliveros Reply November 10, 2010 at 1:43 pm

    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.

  6. AD Reply December 8, 2010 at 5:16 pm

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