contract-law
Does transferring ownership of an LLC void contracts?
<p>I keep my property at an LLC, and I signed a contract with this Owner A.  The Owner A of the LLC gave very short notice that he is going to transfer ownership to another person, Owner B (whom I don't like).  I want to leave immediately but my contract with Owner A says I need to give 30days notice. Once ownership gets transferred to Owner B, is my contract still valid?  Does it automatically transfer to Owner B? Do I still need to give 30days notice?  Or is my contract now terminated and I am free to leave and take my belongings?</p>

<p>The LLC is its own legal person. Your contract with the LLC it is not affected in any way by a change in the ownership of the LLC. </p>

<p>If your "contract" is a residential lease, that would include a property right ("possession" or "occupancy") that "goes with the property" to be honored by any new owners until the lease expires or is properly terminated by its terms and under state laws.  Transfer of ownership of a property, let alone ownership of the company that owns the property, generally doesn't affect a lease.  A party to the lease would still need to give proper notice of termination, regardless of who happens to own it.</p>
