Posted by Bob on February 28, 2004 at 14:37:22:
I have no idea if you can do that with an LLC, but you can do that with a Virginia, Delaware, or Nevada business (statutory) trust (don’t use the Wyoming BT, it’s flawed). Each series of the trust can have different trustees, beneficiaries, assets, and profit splits. Check it out on Google.
Can a member’s interest vary by property in 1 LLC? - Posted by Ken
Posted by Ken on February 20, 2004 at 19:53:32:
Scenario: An LLC is set up to hold three properties. There are three members. Normally, membership interests are spelled out in the Operating Agreement and apply across the board to all holdings within the LLC. But, can you vary membership interests by property in the agreement?
Example:
Property 1 - Jane 5%, John 45%, Joe 50%
Property 2 - Jane 5%, John 85%, Joe 10%
Property 3 - Jane 5%, John 5%, Joe 90%
Hypothetical example, but you get the point.
Is this insane, or has somebody actually done this? I know the obvious “way out” is to set up three LLC’s, but was curious if the same could be accomplished through specific language in the operating agreement.
Thanks,
Ken