A Limited Liability Company is a form of business that combines elements of both corporate structure and partnerships. It owns property like a company in the name of the LLC. Generally, an LLC owns real property that generates profits such as apartments, shopping malls or businesses. The owners are called members and each owns a share in the profits. Purchasers of property owned by an LLC will require a Certificate that confirms the legal existence of the LLC and a Certificate that identifies the member who is authorized to sign deeds.
LLCs are treated differently under various state laws. Each member's interest in the LLC is considered to be personal property. States give creditors various rights. In some states a judgment creditor can step into the shoes of a member and take their share of the profits. Some states allow a forced sale of the LLC property to satisfy a debt.
Your state laws should be carefully reviewed to determine the rules that govern LLCs.
an LLC owner.
An LLC owns property just like any other person, in accordance with local laws and the operating agreement of the company.
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Romney
Jerry Grohovsky owns JPG & Associates.
Typically this is for an LLC to spell out who owns what. For Example, in a corporation ownership is determined by who owns what shares, if there are 100 shares and you own all of them then you own 100% of the company.In an LLC, owners are referred to as "members" and they own a percentage of the LLC. Since the State does not ask who owns what percent, an llc operating agreement states which members own the percentage(s) of the LLC.
Yes, an LLC or Limited Liability Company may hold entities such as property.
Smart Call LLC
Cepia LLC is the company that owns and creates the Zhu Zhu Pets line. They were founded by Russ Hornsby in St. Louis, Missouri in the United States.
Can a LLc protect personal dept?we have (3) propertys in a LLC can that be protected?
McKesson Medical Surgical
Colony Capital LLC