Home Join Now Learn More Sign in
Home | Admin | Sign Out 
Find a Form 

Access thousands of free legal and business forms contributed by leading lawyers and other professionals

Search by key words (e.g., "Sales Contract")
Advanced search

 
Promote Your Business  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Promote Your Business 
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Promote your business  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
Add your free profile  
  • Contribute a legal or business form and network with thousands of potential clients, businesses, and professionals

    Upload a Form Add Your Executive Profile
 
Connect

Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
Close

Thank you for using
Yourfreelegalforms.com


Your online source for 100% free legal and business forms.
Have a form to contribute?
Contribute a legal or business form, checklist or article and have your profile displayed on the same page as the form for free, powerfull, targeted marketing to those searching for legal forms and advice.

Advertise your business to thousands for free – Contribute a form
Form #1691

Assignment of Limited Liability Company Interest

Average user rating:  
Not Yet Rated
Rate it

This is a document that can be used when assigning a members LLC interest to another person.

Need this form customized? Download This Form Printer Friendly Version

ASSIGNMENT OF LIMITED LIABILITY COMPANY INTEREST AGREEMENT

 

This Assignment Agreement (the "Agreement") is entered into this _____________, by and between ________ of [*______*], [*______*], [*______*]  [*______*]  ("Assignor") and ___________i of [*______*], [*______*], [*______*]  [*______*] ("Assignee").

 

Recitals

 

A.            WHEREAS, Assignor is a member in a limited liability company (the "Company ") established by an operating agreement executed on _________ (the "Operating Agreement"); and

 

B.            WHEREAS, Assignor desires to assign his interest (the "Interest") in the Company to Assignee; and

 

C.            WHEREAS, Assignee desires to obtain the Interest subject to the conditions and terms of this Agreement; and

 

D.            WHEREAS, the remaining members in the Company (the "Members") intend to consent to the admission of the Assignee to the Company as a member.

 

                NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.            Assignment of Interest

 

Assignor hereby assigns all of his right, title and interest in the Company, being a ___% share of the business and profits of the Company to Assignee.

 

2.            Acceptance of Assignment

 

Assignee hereby accepts the assignment of the Interest subject to the terms and conditions of this Agreement.

 

3.            Purchase Price; Payment

 

Assignee shall pay Assignor for the assignment of the Interest $_________.00, payable according to the terms of Schedule 1 attached hereto and incorporated by reference herein.

 

4.            Release of Liability; Indemnification

 

The Members hereby relieve Assignor of any liability for any debts or other obligations of the Company arising from, related to, or in connection with the business or operations of the Company, and agree to indemnify and hold Assignor harmless from and against any claim, lawsuit or action at law or in equity threatened or filed by any creditor of the Company which seeks to name, or does name, Assignor as an obligor of any debt or obligation of the Company.

 

5.            Future Profits; Future Liabilities

 

Assignee shall be entitled to receive, and shall receive, all future shares of profits or any distribution of assets of the Company attributable to the Interest, and shall assume liability for a proportionate share of all future losses and liabilities of the Company.

 

6.            Acceptance of Assignment

 

The Members understand, agree and consent to the assignment by Assignor of the Interest to the Assignee, and agree that Assignee shall participate in the management of the Company's affairs and the control of the business, and release Assignor from any additional liabilities incurred by the Company after the date of execution hereof.

 

7.            Construction and Interpretation

 

This Agreement shall be construed and interpreted in accordance with the substantive laws of the State of Wisconsin, including that State's codification of the Wisconsin Limited Liability Company Act, without reference to the principles of conflict of laws of such State.

 

8.            Descriptive Headings

 

The descriptive headings of the several articles and sections contained in this Agreement are included for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

 

9.            Multiple Counterparts

 

This Agreement may be executed in a number of identical counterparts, each of which, for all purposes, is to be deemed as original, and all of which constitute, collectively, one agreement; but in making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart.

 

10.          Effective Date

 

For all purposes hereof, this Agreement shall be deemed effective as of the date first mentioned above.

 

ASSIGNEE:

 

                                                                                                               

 

 

 

 

MEMBERS:

 

 

 

 

By:                                                                                                         

 

 

 

 

By:                                                                                                         

 

 

Attorney Advertising
Fernandes Law Firm is only advertising in states where they are admitted to practice
Contributed by
JP
 
Name of Firm Fernandes Law Firm
Profession (lawyer symbol)   Lawyer
Number of lawyers in firm 1
Branch of Law Corporate, Contract, Commercial, Shareholder Disputed,
Location Milwaukee, Wisconsin, United States
Principal Office Address 500 W Silver Spring Dr. K-200 Milwaukee, WI 53217.
Practicing law since 5/27/1997
Total Forms Contributed 6
Phone 414-915-6599
Website www.businesslawyerofmilwaukee.com
 J.P. Fernandes, Esq. is an informed experienced transactional and commercial attorney who counsels businesses on an array of organizational questions and planning matters. These include shareholder, contract, finance, and private placements, as well as issues related to the sale and purchases of businesses. J.P. Fernandes is licensed by the State of Wisconsin and Federal Bars and admitted to practice in the Federal District Court, Eastern District of Wisconsin, the Wisconsin Supreme Court, and the Court of International Trade, (Customs Court Located in New York, New York).

See All JP's Forms
 

Related Forms

Contract for Sale of Interest in Hotel
Consulting Agreement Template
Assignment Indorsed on Lease
Assignment of Rent-Distinguished from Transfer of Estate
Combination Assignment of Lease, Consent of Lessor, and Acceptance by Assignee

Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
Close

Thank you for using
Yourfreelegalforms.com


Your online source for 100% free legal and business forms.
Have a form to contribute?
Contribute a legal or business form, checklist or article and have your profile displayed on the same page as the form for free, powerfull, targeted marketing to those searching for legal forms and advice.



Was this form helpful? Yes No
Need a different form? Yes No


Need a different form? Need a custom form or service?

Contact this contributor  or post a request to our community.

If you found this form useful, you might consider using JP's professional services. JP can be reached at 414-915-6599 or visit his website at www.businesslawyerofmilwaukee.com.



Comments




Keywords: LLC, limited liability company, assignment

close