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Elliott R. Teel
Teel Law Office, LLC
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Claimed Lawyer ProfileQ&AResponsive Law
Biography
I provide legal services for individuals and small businesses throughout southern Maine. I offer legal analysis and litigation services on real property issues. I represent buyers and sellers in real estate transactions. For business owners I can assist with formation, contract and general consulting matters. For many matters I offer services at flat-rate pricing.
Practice Areas
- Real Estate Law
- Commercial Real Estate, Condominiums, Easements, Eminent Domain, Homeowners Association, Land Use & Zoning, Mortgages, Neighbor Disputes, Residential Real Estate, Water Law
- Business Law
- Business Contracts, Business Dissolution, Business Finance, Business Formation, Business Litigation, Franchising, Mergers & Acquisitions, Partnership & Shareholder Disputes
- Estate Planning
- Guardianship & Conservatorship Estate Administration, Health Care Directives, Trusts, Wills
- Intellectual Property
Fees
- Free Consultation
- Credit Cards Accepted
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Rates, Retainers and Additional Information
I offer several services at a flat rate - please see my website for more information.
Jurisdictions Admitted to Practice
- District of Columbia
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- Maine
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Languages
- English
Professional Experience
- Director
- Portland Independent Business and Community Alliance
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Education
- UDC David A. Clarke School of Law
- J.D. (2006)
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- St. Lawrence University
- B.A. (1995) | Environmental Studies and Sociology
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Professional Associations
- Maine State Bar # 004222
- Member
- Current
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- District of Columbia Bar
- Member
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Legal Answers
12 Questions Answered
- Q. How to transfer jointly owned vacation home into revocable trust in Maine?
- A: Generally, you just need to have a deed prepared to transfer the property into the trust. If there is a mortgage on the property, that may need to be refinanced. Otherwise, it is a fairly simple matter.
- Q. Do I pay taxes on selling LLC share for less than invested?
- A: You should discuss this with an accountant because there may be other information needed to answer. But it sounds like you would want to include it as a loss on your tax return.
- Q. What filings are needed to sell my LLC interest in Maine and remove my name from ownership?
- A: The paperwork for change in the membership in the LLC is kept with the LLC, and not filed with the state. The LLC will need to file an Annual Report with the Maine Secretary of State by June, and that should reflect the change in the membership.
As part of the buyout, you will sign a document releasing your membership shares, and there will need to be documentation showing the LLC is accepting the shares. You should keep copies of those if there are problems later on.
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Contact & Map
