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Paragraph B1 of This Section to Unsuccessful Offerors that Received a  Form

Paragraph B1 of This Section to Unsuccessful Offerors that Received a Form

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hello and welcome to this session in which we will discuss section 351 specifically we're going to be involving Boot and liability assumed let's go back and review what is section 351 well we have a bunch of shareholders that they wanted to to form a corporation what they do is they contribute money and property to this Corporation to form the corporation and in return the company would give them stocks ownership the only difference in this example that we're going to be illustrating is the property contributed by the shareholders for example building land whatever property they are contributing attached to it as some sort of a liability and when you transfer the property to the corporation you are also going to transfer the debt to the corporation because the the debt is simply attached to the property now we are also going to introduce the concept that in addition to the company's stocks the corporation is gonna it's going to give the shareholders a boot now what is a boot simply put

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