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    0 Replies Latest reply on Feb 4, 2010 11:53 PM by RishiHoldings

    Two owners of an S-Corp, want to make 1owner Scorp

    RishiHoldings Newbie
      Dear all,

      My first post and its a question, but I also hope to provide feedback and help others as well.

      My mother's name is on the business name and books, she wants to give the business to my brother, and make him the full owner (as they both work in the business, just she owns it officially).

      How do we go about doing this? I heard of a UBR i think its called, or universal business "something" i forgot the exact name.

      Please let me know, my brother wants to take over the S-Corp and to be the only owner. My mom doesnt want anything from the business, i.e. payout, shares or ownership anymore.

      Thanks,