How to Sell an LLC – Bill of Sale Template
LLC membership interests bill of sale
If you’re looking to sell your LLC, you sell your membership interests in the LLC via a bill of sale. If you’re a single member LLC, you can sell your interests for whatever you want, but if you’re a multiple member LLC, you may have some stricter rules in your operating agreement to keep the value of the LLC at a certain point. You may also have rights of refusal to the other members in the LLC.
Selling an LLC is simple. You can use our free LLC membership bill of sale template below to document the sale. We recommend doing a credit check and UCC search with the Secretary of State of formation before agreeing to buy a LLC membership interest.
If there are debts of the LLC, you should use an attorney drafted LLC bill of sale, and you should really be spending a couple thousand bucks in legal fees to really know what you’re getting into.
Before you buy membership interests, you should draft articles of amendment showing a change in LLC members. You should then file the LLC articles of amendment with the State agency governing your LLC.
You’ll need a registered agent to keep your LLC in good standing. Many of our clients appreciate our extensive online tools and resources we provide to help you manage your LLC.
Download: LLC membership bill of sale template