This form is used when the present owners of the Leases (or portions of the Leases) that are included in a Unit desire to dissolve the Unit, terminate its existence, and declare the Leases to no longer be included in the Unit.
It can vary, but generally, if you have your ducks in a row, the process can be wrapped up in a few weeks to a couple of months.
Typically, you’re still responsible for your debts after dissolving your unit, so it’s wise to tie up all loose ends before you call it quits.
While it's not a must, having a lawyer can save you a headache by guiding you through the process and making sure everything is buttoned up.
Yes, but you'll need to handle the debts first, as it's best to clear the air before moving on to avoid any legal hassle.
You usually have to file some paperwork with the state, settle any outstanding debts, and distribute any remaining assets before the final curtain falls.
People often dissolve a unit because they’re not making ends meet, the business isn’t working out, or if they want to move on to new ventures.
Dissolving a unit in Tucson means officially shutting down a business or organization, so it no longer exists as a legal entity.