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 Marcus Parker Your Own Question
Marcus Parker
Marcus Parker, Attorney
Category: Business Law
Satisfied Customers: 460
Experience:  Experienced in corporations, LLC, partnerships, etc., formation and operation
Type Your Business Law Question Here...
Marcus Parker is online now
A new question is answered every 9 seconds

A married couple Quitdeeds their restaurant in exchange for ...

Customer Question

A married couple Quitdeeds their restaurant in exchange for an interest in an LLC however, exactly one month to the quitdeed the resaurant burns to the ground and takes out the apartments next door via the tree on their property-the fire is still under investigation however, it was ruled not accidental or natural-who is responsible? In other words who does one go after to recoup thier losses? Especialy if one does not have renter''s ins.
Submitted: 9 years ago.
Category: Business Law
Expert:  Marcus Parker replied 9 years ago.
Who is the "one" seeking to recoup losses? The "married couple:?
Customer: replied 9 years ago.
I am-however, I am at a cross road with the insurance company
Expert:  Marcus Parker replied 9 years ago.
It appears that you no longer have an interest in the restaurant, having traded it for interest in the LLC. So are you affected by the fire?
Customer: replied 9 years ago.
OK from the beginning-I was the one who lost the contents of my apartment to this restaurant fire-I had no renters insurance-the owners of this restaurant quitdeeded it to Echo Holdings LLC in exchange for interest in Echo Holding a month before their fire-the fire went from the restaurant to a tree on their property up into the limbs and branches which over hung and then onto the roof of our building-doing severe damage to my apartment. I submitted my claim with the owners insurance company (because I have no attorney-no one sees it profitable)and I have proved everything-however, the insurance co. still will not budge-eventhough his business was an LLC is he still not responsible for his property causing damage to mine? This is not his first business fire (actually second one in less than two years). Like I said I provided the insurance co. with ample proof that his tree caused our fire and so did the fire report.
Expert:  Marcus Parker replied 9 years ago.
The owner of the policy was the former owner of the restaurant or the LLC? If there is a question over the ownership of the restaurant, you would file suit against both the individual and the LLC, and let them sort it out.
Customer: replied 9 years ago.
How do I go about finding out who Echo Holdings LLC is? I know the owner's name is XXXXX XXXXX policy but the insurance company says I need to prove him negligent since the fire source was never found but the fire dept. deemed it not natural and not accidential.
Expert:  Marcus Parker replied 9 years ago.
Most states now have this information online. It is typically under the Secretary of Commerce or Secretary of Corporations, or a similar title. Which state is it?
Customer: replied 9 years ago.
Reply to XXXXX XXXXX's Post: Washington State
Expert:  Marcus Parker replied 9 years ago.
UBI Number602446838
CategoryLimited Liability Regular
State of IncorporationWA
Date of Incorporation11/16/2004
License Expiration Date11/30/2008
Registered Agent Information