If I am a shareholder in a corporation, can I build a home on the property?
My family owns a 1000 acre farm that is a c Corporation. I am a shareholder in the corporation, albeit a small holder. My fiance and I would like to build a home on some of the property, about 2 acres. Does the property being held in a c Corporation make it impossible to build? Or is this something decided in individual states? If anyone has any suggestions, I would appreciate it. I don't even know who to talk to. A lawyer? An accountant?
Thanks.
It is up to the shareholders of the C-Corp. What are the bylaws of the C-corp? Maybe just a simple majority is needed to grant permission, maybe a 2/3rds majority. Who knows.
Probably need to speak with a lawyer AND an accountant.
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Depending on the structure of the corporation, this decision will be up to either the management of the corporation or its board of directors. Talk to them first.
References :
It is up to the shareholders of the C-Corp. What are the bylaws of the C-corp? Maybe just a simple majority is needed to grant permission, maybe a 2/3rds majority. Who knows.
Probably need to speak with a lawyer AND an accountant.
References :