| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #6742 | Closed | public | Multifamily | Les Sparks |
|
I have a project that is operating as an LLC. There were two members, during 2015, one of the members purchased the ownership interest in the project from the other member. Management did not get HUD approval. Does this constitute an unauthorized change in ownership? |
|
|
From Les Sparks: Since both partners are already approved by HUD, then there is no reason to get another approval. If the there was another “new” partner not already approved as an owner by HUD, would need to be approved. |
Write a reply
The ticket has been closed. If you feel that your issue has not been solved yet or something new came up in relation to this ticket, you can re-open it by clicking this link.