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Updated about 8 years ago on . Most recent reply

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58
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7
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Tom MacDonald
  • Melbourne, VIC
7
Votes |
58
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Move deal into LLC after purchase?

Tom MacDonald
  • Melbourne, VIC
Posted

Hi BP, I have filed for an LLC but it is still being processed by the state. There is a deal that I want to put an offer on and I don't want to miss it. Can I put in an offer and purchase the property in my own name, then somehow move it into an LLC for tax and liability purposes?

Thanks,
Tom

Most Popular Reply

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10,250
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16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
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10,250
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

There are also insurance (title and hazard) matters to consider.  The policy holder will be different than the property owner with an after-the-fact transfer.

I would offer as @Tom MacDonald or xxxx LLC for now. You can remove one as you obtain more info.

Is this property in the states?  What type?  A house? Commercial property is an entirely different animal.

Proper answers to this question completely depend on asset type and location.  Who knows what the laws are in a different country.

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