Hey everyone… can someone explain intra-family transfer and dissolution to me like I’m five? Is it normal for a land developer to use this when selling property? For example, if someone in the company owns land privately but decides to sell it through the company and then files for an intra-family transfer and dissolution. Thanks for any help!
Sure! Intra-family transfer is like passing your toys to your brother or sister. It’s a way for family members to share or give things to each other. And dissolution is like saying, ‘We’re done with this game.’
Yeah, developers sometimes do this. It helps them manage their properties better and can save on taxes too.
So, it’s like when you have a family pizza party, and everyone shares the slices? That’s how I see it.
Derry said:
So, it’s like when you have a family pizza party, and everyone shares the slices? That’s how I see it.
Exactly! Everyone gets a piece, and then you clean up after, right? That’s the dissolution part!
I think it’s used to keep things in the family and avoid problems later. Makes sense to me!
Thanks for the clarity! I appreciate the simple explanations.