2 legal questions - Posted by fuzzlekins

Real Estate Investing Real Estate Law
1

Posted by fuzzlekins on July 22, 2004 at 12:47:50:

THANKS!

2

2 legal questions - Posted by fuzzlekins

Posted by fuzzlekins on June 22, 2004 at 10:03:37:

  1. I have heard that one has to be careful of using “LLC” or “Inc” before having it officially set up. How true is this? Is it illegal to pass out business cards with your new company name on it (incl. “LLC”) before the LLC paperwork has been submitted?

  2. Is it illegal to advertise a property for sale or rent in the paper if you have it under contract but do not own it yet? If so, is there any wording or circumstance under which you could?

Thanks!

3

2 legal answers:, No & No - Posted by John Merchant

Posted by John Merchant on July 22, 2004 at 12:00:13:

Nope, you or I could advertise that we’re the King of Siam, or our LLC owns NYC, etc…and as long as nobody relies on our ad to their financial or physical harm or detrminent, no harm done, no illegality committed.

If your purpose IS to scam somebody, then your ad will be remembered and used against you, no doubt, but if your purpose is only market testing, prospect “fishing”, or similar, nothing wrong with saying you are something you’re not, or you own something you don’t.