Easily Hide Cross Out Option into the LLP Agreement

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How to Hide Cross Out Option into the LLP Agreement

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[Music] okay lets say you get a hundred thousand dollar property its worth that and you get it on an option for 80 000 like you said you Market it and then somebody says Hey I want to buy it lets do it are you like buying it like youre exercising the option to buy it yourself and then youre selling it to them with a double closing or are you somehow assigning the option and they jump in how does that other mechanics of that work so weve been really fortunate we have expanded um but when we started doing this method Im about to tell you about we started in Arizona and we work with Great American Title Agency out of Phoenix there they have been awesome and I recommend them to everybody weve also found one in Tennessee that we use and what weve been able to do with them is do a true a to c double close where they use the buyers money and they pay everybody and that has been a huge game thats big deal not not only that theyre able to do it without disclosing what our profit wou

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What are the restrictions on conversion of company into LLP?

The total sales, gross, and turnover in any of the 3 preceding years from the conversion date of the do not exceed Rs. 60 Lakhs. The total value of assets as resembling in the books of account of the Company in any of the past 3 years does not exceed Rs. 5 crores.

Which of the following Cannot be converted into LLP?

Sole Proprietorship: A sole proprietorship is a business owned and operated by one person and cannot be converted into an LLP.

What is Section 24 of the LLP Act?

(1) A person may cease to be a partner of a limited liability partnership in ance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of not less than thirty days to the other partners of his intention

Which special or disconnected partner should an LLP have at least?

Every LLP shall be required to have atleast two Designated Partners who shall be individuals and at least one of the Designated Partner shall be a resident of India.

Which of the following is not a part of LLP?

The correct answer is Partners should be less than 20. The Indian Partnership Act 1932 enacts all the provisions relating to partnership.

What is holding out in LLP?

The Act provides that any person (not being a partner in any LLP), who by words spoken or written or by conduct, represents himself, or knowingly permits himself to be represented to be a partner in a LLP (known as partner by Holding out) is liable to any person who has on the faith of any such representation given

Which company can be converted into LLP?

The LLP Act contains enabling provisions pursuant to which a firm (set up under Indian Partnership Act, 1932) and private company or unlisted public company (incorporated under Companies Act) would be able to convert themselves into LLPs.

Who Cannot be a partner in LLP?

Any other person may become partner in ance with the LLP Agreement. It is clarified that as per section 5 of LLP Act, 2008 only an individual or body corporate may be a partner in a Limited Liability Partnership. An HUF cannot be treated as a body corporate for the purposes of LLP Act, 2008.

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