Help: Leasing an authority and LLC/Corp.

Hello everyone, just discovered the forum was hoping to get some help. A year ago, my father and I decided to get our own broker authority and filed the business at the local office as a sole proprietorship (to keep things simple, or so I thought). To make a long story short, he now wants out. I myself have never drove a truck before nor do I have a license. Our truck was purchased under his name along with with the authority and everything else (insurance, banks accounts, permits, etc.). The truck was also driven as a team and my father along with our employee will continue driving the truck. Now this is where I need help... As I plan to continue the business, should I come up with a contract stating my father as the "lessor" when it comes the all the documents and business assets under his name, or form an LLC/Corp before proceeding. If there is an easier way to go about it, please let me know.

Thanks in advance

 

At stated in my original post, I myself do not have a license. Without a license I was unable to purchase the truck and register it under my name, which is the reason it was purchased under his. Since the truck was under his name, it only made sense at the time to have everything else under his name as well. I handle most of the cash flow, but the checks and bank account are still in his name. When the business was started, the intention was for him to work under it as a regular employee making me the sole owner. He doesn't exactly want out, he just doesn't want any accounts/checks/profit under his name and only wants to be recognized as an employee, not an owner. I am trying to figure out how to go about doing this with everything (authority, truck, etc.) in his name.

 

Not sure how my description led you to believe I have no interest in the company...

I do have a better idea now of how to proceed, so thanks.

 

I figured time and money was enough to have "vested interest" so I ruled that out, lol.

Thanks