How to Transfer a Business Registration
When buying a business, it is imperative to make sure all paperwork designates you as the new owner of all company assets when completing the the purchase. While purchase agreements are signed and completed, you still don't technically control the company until the entity's registration is transferred at the issuing organization. This is a simple part of changing ownership that is easily forgotten while energies are focused on the details of negotiations.
Instructions
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Visit the office of the secretary of state or county registrar where the business originates. All entities are registered with one or both of these government offices. Corporations and limited-liability companies are registered with the secretary of state and fictitious name registrations are at the county registrar.
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Ask for a business registration transfer form. Be sure this is a transfer form and not a new registration form. Ask whether the transfer form needs to be notarized.
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Fill the form out completely, including the original registrar's name and address as well as your name and contact information.
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Meet with the relinquishing party. Review the form to make sure all information is correct and that it has been signed and dated. Then, have the relinquishing party sign and date the form. If the transfer form does need to be notarized, it is easier to meet at the notary's office.
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Go back to the registration office and submit the form. Pay any fees associated with the transfer.
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Tips & Warnings
Forms, fee schedules and mailing addresses are available online at most county recorder and secretary of state's offices. It can expedite the process to download the forms online and also saves time standing in line.
If you are trying to expedite the transfer, get the date stamp from the registration office for faster processing of your documents, rather than waiting for postal confirmation.
References
Resources
- Photo Credit business image by david levasseur from Fotolia.com