Posted by Bill Gatten on January 20, 1999 at 18:56:24:
Jason,
Touchet! Good catch! Urab so lutely right!
Don’t you just hate it, David, when people who know what they’re talking about butt in.
Best regards,
Bill
Posted by Bill Gatten on January 20, 1999 at 18:56:24:
Jason,
Touchet! Good catch! Urab so lutely right!
Don’t you just hate it, David, when people who know what they’re talking about butt in.
Best regards,
Bill
LLC, What is it? - Posted by David
Posted by David on January 19, 1999 at 18:51:26:
I know this is a stupid question, but what is a LLC, Land contract? IF so, what is a Land Contract?
Re: LLC, What is it? - Posted by Jason-DTX
Posted by Jason-DTX on January 19, 1999 at 23:49:07:
Actually a LLC stands for “Limited Liability COMPANY” It is an entity that has similarities with a corporation and similarities with a partnership. All corporations have limited liability so saying “limited liability corporation” is no different than saying “corporation” It is understood that “corporation” means “limited liability”
I don’t mean to offend anyone below I am just trying to explain the difference.
Jason
Re: LLC, What is it? - Posted by Bill Gatten
Posted by Bill Gatten on January 19, 1999 at 19:39:10:
David, you’ll get a dozen answers to you question, so mine is rather moot at this point; but “LLC” generally stands for Limited Liabiliy Corporation; and a “Land Contract.” also known as a "Land Sale Contract, “Contract for Sale,” “Contract for Deed,” “Contract for Warranty Deed,” etc.) is essentially a “lay-away plan.” I.e., You buy the house on a contract promising that when it’s paid for, then you’ll get the deed.
Re: LLC, What is it? - Posted by Bill Mooney
Posted by Bill Mooney on January 19, 1999 at 18:55:23:
LLC is a Limited Liability Corporation. It is a form of an organization. It has nothing to do with a land contract…that is unless an LLC owns or is purchasing a piece of real estate with a land sale contract.
Bill