Ifwe just changed our business from a sole proprietorship to an LLC, do we need to change the titles to the company vehicles?

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Ifwe just changed our business from a sole proprietorship to an LLC, do we need to change the titles to the company vehicles?

We have a septic business with 2 trucks and porta pottys. The trucks are in our personal names. Do we need to change the titles to our business name or leave them in our personal names and rent them to the business? My husband is the only employee.

Asked on July 18, 2019 under Business Law, Minnesota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

For maximum legal protection, title them to the LLC: the reason is, a vehicle's owner can be held liable for any accidents involving those whom he or she allows to drive his or her vehicles, if the driver(s) were at fault. To make sure you are not personally liable for a vehicle accident, you dont want to be the owner.


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