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Transfer of Debt for sole proprietorship

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asked on Nov 18, 2016 at 02:18
by   Ken Ho
Hi All,

Would seek your advise on the matter above. Recently, there is a company who wants to sell their business to my cousin but i found that the person is very suspicious. Always avoid contact and only tell us that he always has limited time. As I understand sole proprietor would carry the debt of his company so if a person who to transfer his company to others would the debt follows? Or just the company name.

Would need your kind advise.

Thanks.
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3 Answers

answered on Nov 18, 2016 at 03:19
by   jeff005
What type of company?
Sole proprietor?
Partnership?
Sdn Bhd?
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answered on Nov 18, 2016 at 03:40
by   Ken Ho
edited Nov 18, 2016 at 04:29
by   Ken Ho
it is a sole proprietorship company. To be precise, they want to transfer the company ownership.
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answered on Nov 18, 2016 at 05:30
by   jeff005
By buying over a sole proprietorship company
U take over the name
the assets
the liabilities
any ah long debts (used company assets as collactorals)
plus ex gf's debts
Chinese call it pau san pau hoi..
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