How Do I Get Money Out Of An Escrow Account?
I got a settlement for a car accident about a year ago...I put $5000 into an escrow account......i just recently came into some pretty bad money trouble, and need to know if i can get the money out of the escrow account earlier than the 16 months that was agreed to.......is there any way to get it sooner?
O.K., you all might find this interesting...I know I do.
I checked the state/county website for the "principals" on the old LLC, and the "principals" on the new LLC....THEY ARE THE SAME!
It appears as if the owners simply started a new LLC, transfered all assets into the new LLC, disolved the old LLC and declared all contracts null and void. But it is the SAME PEOPLE!
Can they do this? How can I stop them?
P.S. I am not alone in this...they are doing this to about 10 people in my local investment club...who knows how many investors elswhere. If they get away with it they will be making hundreds of thousands of dollars!
Get a lawyer. refinance the property. If you have a warranty deed in your name, you should be able to refinance the property in your name, correct?
Good Luck!
[addsig]
bump again..
I think the best way to go is create an LLC and have the two LLCs as members...didnt know you could do it that way..
Or a trust.
Which vehicle have you chosen??
I believe that you can have each LLC be on the deed for an equal share much like a husband and wife both own a home 50/50.