Cohousing-L Mailing List: Re: COHOUSING-L digest 570

[david m. dobkin (dmdobkin]

Denise,

Although our structure was very different, we just sort of said "the
development corporation is dead, long live the hoa" and transferred assets
to hoa and filed a closing tax return for development corporation. For
details, email deb golberg grey-- debgoldberg [at] earthlink.net, who's on our
finance committee.

David


cohousing-l [at] freedom2.mtn.org wrote:

>                             COHOUSING-L Digest 570
>
> Topics covered in this issue include:
>
>   1) legal help needed
>         by Denise Meier <neesie [at] sonic.net>
>
> ----------------------------------------------------------------------
>
> Date: Sun, 10 Dec 2000 13:24:26 -0800
> From: Denise Meier <neesie [at] sonic.net>
> To: coho list list <cohousing-l [at] freedom2.mtn.org>
> Subject: legal help needed
> Message-ID: <3A33F48A.6039A28D [at] sonic.net>
>
> We at Two Acre Wood want to dissolve the LLC (Limited Liability Company)
> we formed to build this place, and transfer the responsibility for
> finishing up the little items that are still outstanding to the HOA
> (Homeowner's Association). Has any other group done this? We tried to
> get some legal advice and ended up with an offer to write up a transfer
> document at a cost of $3500 - $4000. This seems really high, and quite
> possibly unnecessary.
>
> I assume other groups had this structure and then dissolved it, even
> though I know the LLC structure is relatively new. What we're trying to
> understand is whether there is some legal protection the LLC offers us
> that we are giving up by dissolving it, and whether we should keep it
> around. I mean, it has to go away at SOME point, we can't keep it open
> indefinitely (at $800 minimum corporate tax/year) - just for the purpose
> of some vague liability protection.
>
> Any comments or ideas?
>
> Thanks,
> Denise Meier
>
> ------------------------------
>
> End of COHOUSING-L Digest 570
> *****************************

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