Joseph and Susan are shareholders in a closely held corporation.If nothing was written about this,when Susan dies,all the corporate property will go to Joseph.

Question

Quizplus · Accepted Answer

Corporate property is owned by the corporation, not by the shareholders directly. Upon Susan's death, her shares in the corporation would be handled according to her estate plan or state law, but the corporate property itself remains with the corporation.

Joseph and Susan Are Shareholders in a Closely Held Corporation