How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JBaxLaw Your Own Question
JBaxLaw, Attorney
Category: Business Law
Satisfied Customers: 11331
Experience:  Experienced in business formation and licensing issues
Type Your Business Law Question Here...
JBaxLaw is online now
A new question is answered every 9 seconds

Want to transfer 100% of an S Corp stock from one spouse to

Customer Question

Want to transfer 100% of an S Corp stock from one spouse to the other. No par value. Wife currently owns 100% and is sole officer. Wants husband to be 100% owner and sole officer, removing wife as having any officer position in the corporation.
Submitted: 3 years ago.
Category: Business Law
Expert:  JBaxLaw replied 3 years ago.

I am a professional here to assist you. I appreciate your use of this service.

The first step is to check the bylaws for any requirements specific to this entity. Beyond any bylaw requirements for the changes sought, there would typically be an agreement by which the shares transfer. This is best prepared by an attorney although you can likely find form documents for the transfer of such shares. The back of the stock certificates would be signed to show the transfer. The change of officers would be supported by a letter of resignation. The Biennial Statement as required by Section 408 of the Business Corporation Law can be used to update the name of the officer via:

Please follow-up with me as needed. I hope you will take a moment to leave a positive rating for my efforts here. Please do not hesitate to follow-up with me if you cannot leave a positive service rating. Your satisfaction is my goal. I rely on these service ratings. I appreciate it.

Thank you

Related Business Law Questions