Ifwe just changed our business from a sole proprietorship to an LLC, do we need to change the titles to the company vehicles?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Ifwe just changed our business from a sole proprietorship to an LLC, do we need to change the titles to the company vehicles?
We have a septic business with 2 trucks and porta pottys. The trucks are in our personal names. Do we need to change the titles to our business name or leave them in our personal names and rent them to the business? My husband is the only employee.
Asked on July 18, 2019 under Business Law, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
For maximum legal protection, title them to the LLC: the reason is, a vehicle's owner can be held liable for any accidents involving those whom he or she allows to drive his or her vehicles, if the driver(s) were at fault. To make sure you are not personally liable for a vehicle accident, you dont want to be the owner.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.