Hi .. Question! My investor's flip is expected to be sold, he has not yet received an EIN for the llc…
Hi .. Question!
My investor's flip is expected to be sold, he has not yet received an EIN for the llc and therefore also cannot open a bank account. The title insists on transferring only to the account in the name of the llc ..
Anyone have a creative solution I did not know ??
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Oh darling I really do not understand. You should be proud !! That the title company is not willing to distort laws. It protects you
That the investor will wait
Ask for a check, instead of wire. And that will give enough time to open an account
Or open an instant business account in Wise (formerly TransferWise).
That the title be kept in trust until he opens an account
Can I make a quit claim? What does LLC own?
Baruch Grinfeld Edi Mari
Who is the title?
If your LLC is the manager of the LLC of the transaction then you can write in OA that the money from the sale goes to your account.
Have you checked with another title?
Ask them if they will agree to transfer to another account with a member resolution signed by the investor/investors that asks to transfer the funds to another account.
If the LLC is in his name only and has a private account in his name only then he can write a statement that he wants to transfer the funds to the private account.
Maybe, and only maybe the title will agree.
It happened to me with my investor
We have a solution that sometimes works and sometimes doesn't, depending on the title company. Talk to me