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  • smitshah replied to the topic Family Businesses in the forum Business 101 7 years, 8 months ago

    Sole propretorship can not be sold or passed on under the law but the other way of doing this would be convert the sole propretorship into a llp which is allowed and get one of the son onboard and later there dad can show that he sold his share to his other son and now dad can get out of the firm i.e. basically he passed his company to his son and it wont die with him.