- passing of title;
- made with the intent to pass title;
- without receiving money or value in consideration for the passing of title.
The following form is a gift to a family member of stock in a business owned by the donor.
Oregon Gift of Stock Interest in Business to Family Member refers to a legal process through which an individual living in Oregon transfers ownership or partial ownership of a business to a family member by gifting stock or shares of that business. This type of transfer is commonly used when a business owner wants to pass down ownership and control of their business to a family member, such as a child, spouse, or other relative. The gift of stock interest in a business to a family member is regulated by specific laws and regulations in the state of Oregon to ensure a smooth and fair transfer process. It is important to understand and comply with these laws to avoid any legal complications. There are different types of Oregon Gift of Stock Interest in Business to Family Member, some of which include: 1. Direct Stock Gift: This involves transferring ownership or partial ownership of the business directly to a family member without involving any intermediaries or third parties. The business owner may gift a specific number of shares or stocks in the business to the chosen family member. 2. Family Limited Partnership (FLP): This is a more complex type of gift wherein the business owner transfers stock interest to a family limited partnership, which is a legal entity created specifically for this purpose. The FLP then distributes the stock interest to the family members involved. 3. Family Limited Liability Company (LLC): Similar to FLP, this type of gift involves transferring stock interest to a family limited liability company specially formed for this purpose. The stock interest is then distributed among the family members who are members of the LLC. 4. Granter Retained Annuity Trust (GREAT): This is a trust-based arrangement wherein the business owner transfers stock interest to a trust for a specified period, usually for the benefit of a family member. The transferor retains an annuity payment from the trust during the trust term, after which the stock interest is then transferred to the intended family members. It is essential to consult with an attorney or a legal professional specializing in business and estate planning to determine the most suitable method for gifting stock interest in a business in Oregon. This will ensure that all legal requirements are met, and the transfer process is carried out in compliance with state laws.
