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What is the name of your state? NJ
My brother and sister just received a monetary gift from our mother.
We want to pool this money and use it as a down payment on an income property.
Do you suggest we form an LLC and let the corporation purchase the property.
Hopefully, down the road we intend to purchase more properties.



Unless you foresee some special risk with liability for the property, there is probably no reason to form an llc at the present time. When you do acquire additional properties, then you should reconsider. If you are worried about personal liability, a llc could be indicated.

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