In a corporation. can i deed properties to my self

Question

can i deed properties (real estate) to my self with out the knowledge and authorization of my partner????

Answer 1

This is a loaded question. Generally a Corporation does not have partners. It has officers, board of directors and shareholders. These can be all the same people as is the case of many partnerships that incorporate. The usual structure is that the partners each take a proportional share of the new corporation. Some US states allow a partnership to incorporate with the same structure as the partnership. It depends how the partnership is structured and some allow for some types of remedies to certain unethical /  illegal activities carried on by the other partner. I would suggest you see legal counsel to get specific advice for your situation. This could become a case of the bad or criminal partner winning in court due to the good partner taking bad advice and breaching ethical or legal considerations. If you are in a profession that is governed by a society or association you could also be banned or expelled by the society or association limiting your ability to work in that profession. You clearly cannot take anything out of the company (legally) without the approval of the officers of the company and / or the shareholders and board of directors. This truly is an issue for legal counsel depending on why you want to do so and presumably if you don't want your partner to know there is some issue happening. You may have some leverage if you originally owned the properties and feel that you were duped into transferring them you may consider a replevin lien on the propertie(s) with advice from counsel.

The other Axiom to remember is that the only ones to win when a partnership goes bad is the lawyers. Sounds like you have both a legal and ethical condundrum. Find out your rights and responsibilities before doing anything.  Plainly I would say on the face of it NO.

Hope this helps.

Tekkiefirst

P. S. It might help you to check out some other alternative methods in commerce. (search the terms Commercial Remedies) in your favorite search engine. you will be amazed what you will find.

Answer 2

No not legally.

If the proceeds from an enterprise are utilized for self worth this is illegal an immoral. That's why so many CEOs are charged.

If you are a "corporation" there are governance's that you must abide by.

Answer 3

i don't think so cos if I'm not wrong the business is considered a separate entity from the owner cos you need authorization from all partners