Will it borkinate anything to put an owned community lot into the Lot Bin? I know that the owner will no longer own the property, but that's okay. I'm trying to take the lazy way of reorganizing my business structure without having to go into a ton of lots to sell off the businesses, but if doing it the fast and dirty way causes problems with either the owners or the businesses I'll bite the bullet and do it the long way.
If you don't fire or lay off the employees first, they'll still think that they work at the nonexistent place of employment. If they're playables, it's realtively easy to go and make them quit. If they're townies, and if it matters, you'll have to invite them to a house, make them selectable, and then have them quit.