Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Buying & Selling a Home
Reload this Page Buying 2 uint as an LLC?

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 06-07-2005, 02:25 PM
Junior Member
  
Join Date: Jun 2005
Posts: 2

Buying 2 uint as an LLC?

I'd like to buy a 2 unit investment unit in NJ. I'd like to buy it under my LLC so I'm protected. Can I do this? Any special issues I should know about? Can I get a mortgage in the name of my LLC or get title held with it? Am I unnecessarily concerned, I just don't want to lose everything due to a tenant issue

Thanks in advance
  #2  
Old 06-07-2005, 05:36 PM
Senior Member
  
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by plane_crazy
I'd like to buy a 2 unit investment unit in NJ. I'd like to buy it under my LLC so I'm protected. Can I do this? Any special issues I should know about? Can I get a mortgage in the name of my LLC or get title held with it? Am I unnecessarily concerned, I just don't want to lose everything due to a tenant issue

Thanks in advance
**A: the answers that you seek need to come from the mortgage lender.
  #3  
Old 06-07-2005, 06:05 PM
Junior Member
  
Join Date: Jun 2005
Posts: 2
Well I guess that's my question, I'm looking to seperate out the mortgage note from the title. I'm sure the bank is only going to loan me money with my name on the note, but my thought was to quit claim the title to the LLC to protect myself in case of a lawsuit. I've got a call into my real estate lawyer but was looking for quick answers or opionions until he gets back to me.

Thanks for your response
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 01:28 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.