How can I switch to LLC? - Posted by Bob Ferguson

Real Estate Investing Real Estate Law
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Posted by John Merchant on September 01, 2004 at 12:35:35:

Anybody can register a new LLC, then deed whatever RE he might have into it.

Many websites for finding LLC forms, for every state, which can then be filed by anybody along with the fee for that particular state.

Generally, filing and registering new LLC is so simple no lawyer is needed.

Except in the situation where there are several owners(unit holders)of the new LLC, in which event a lawyer would probably be needed to draft the operating agreement for the LLC.

Remember that any such deed to one’s own LLC would need to be recorded in deed records in county of that RE, and until that’s done, the deed records will show YOU as the owner.

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How can I switch to LLC? - Posted by Bob Ferguson

Posted by Bob Ferguson on September 01, 2004 at 11:58:58:

I currently own four investment properties, but I guess I am treated as a sole propietor. For obvious reasons, I want to protect my investments. I have a few questions:

  1. Can I set up my properties in an LLC, although they are currently in my name?
  2. If so, where can I seek help for this?
  3. Should I set up each individual property in a different LLC, to limit any damages to that individual property?
    Any other info or advice would be helpful. Thanks in advance.

Bob