Although Indiana statutes do not have a specific provision for the discharging of liens via payment of the claim, this form can be used by a corporate or LLC lien holder to provide a property owner or other party with a release upon payment in full of the amount owed.
Indiana Discharge of Lien - Corporation or LLC
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Yes, it's possible for someone to file a lien on your house without your prior knowledge in Indiana. Typically, this occurs when creditors seek to secure their interest in your property due to unpaid debts. However, you can defend against unwarranted liens by staying informed about your property records. Using services like US Legal Forms can help you manage and release any invalid liens through the Indiana discharge of lien process for a Corporation or LLC.
Member Removal The ability to fire a member depends on the LLC's operating agreement.Instead, an operating agreement may allow a member to be involuntarily removed only if another member buys out his interest in the business.
The main purpose of a lien waiver is to provide protection to the paying party. In exchange for such payment, the lien waiver waives the payee's right to file a lien for the exact value of the payment they have received.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
The only way a member of an LLC may be removed is by submitting a written notice of withdrawal unless the articles of organization or the operating agreement for the LLC in question details a procedure for members to vote out others.
Determine whether the LLC's governing documents set out formal procedures. Implement the formal procedure. Have the former member submit a written notice of withdrawal. File a petition for judicial dissolution.
Hold a board of directors meeting and formally move to dissolve your corporation. File the Articles of Dissolution with the Business Services Division of the Indiana Secretary of State's office. Fulfill all tax obligations with the state of Indiana, as well as with the IRS.
A lien is a claim on property to ensure payment of a debt. When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.
Generally, an operating agreement guides an LLC in the event a member withdraws. Without an operating agreement, state law determines whether the the remaining members split or purchase the departing member's share or the company automatically dissolves. The members may be required to notify the Secretary of State.
California requires LLCs to report changes in company membership to the Secretary of State. You can do this by filing a Statement of Information (Form LLC-12). California LLCs have to file one of these annually anyway, so if you have not yet filed for the year, you can simply include the updated member information.