Buying a dissolved company can be an effective way to acquire assets and save money. But it can also be a complex and time-consuming process. Knowing how to buy a dissolved company is critical for individuals and businesses who are interested in taking advantage of this opportunity.

How to Buy a Dissolved Company?

In doing your search of available company names, you may find that a company is cited as either “inactive” or “dissolved.” If the company is listed as dissolved, you can purchase the debt from the company, which is done all the time by the purchasing party. However, dissolved companies no longer exist in a legal sense, and so you cannot purchase the property from a non-existent entity. That said, you can still use the company name for your own, but there are some drawbacks to consider:

  • The dissolution must be approved by the majority of shareholders. If the vote does not pass, your business does not secure the shareholder vote and cannot be completed.
  • Closing a business entity is officially known as the “dissolution” of the company. Your operating agreement should include instructions on how to dissolve your company.
  • You may need to pay certain fees and taxes associated with the dissolution process.
  • Any outstanding liabilities or debts must be taken care of before the dissolution process can begin.

It is important to note that purchasing a dissolved company is a complex process and may require assistance from a legal, tax, or business professional. It is also important to remember that the dissolution process must be completed before the purchase can be finalized and all liabilities must be taken care of.

Finding the right business broker can help you navigate the complexities of buying a dissolved company. Atlantabusinesses.com is a great resource for answers to all your questions about selling a business and about business brokers. With the right broker, you can get the help you need to make sure that you are getting the most out of the purchase of a dissolved company.

What is the process for purchasing a property from a dissolved corporation?

Without a court order, the transfer of ownership of the deed would have to come from the current holder to the buyer. The most straightforward solution would be to have someone with power restore or activate the entity. This could require the completion of many corporate documents and the payment of multiple fees, covering a number of years.

Who is the rightful owner of the possessions of a company that has been shut down?

When the company is dissolved, the owners will then have ownership of all its assets.

Do dissolved companies still have any kind of responsibility?

A dissolved company can still be taken to court even after its dissolution. The winding up of the company’s affairs does not prevent it from addressing any outstanding matters, such as lawsuits. The dissolution only stops the company from entering into any new business transactions.

Is it possible to revive a business that has been dissolved?

You will have to submit a document known as a certificate of revival, an application for reinstatement, articles of revocation of dissolution, or an application for revival to the state government.