Can a WY LLC own property in another state?

[John G.]

I recently formed a holding company in WY. I was going to form an LLC in Florida to be owned by this WY LLC.

I have a couple of questions before moving forward:

1) Can I just form a child LLC , also in WY, and have THAT LLC own the FL property? (It's going to be a short-term rental)

2) Because of the limited protection of single-member LLCs in FL, can the WY LLC be a one of the "members" of the FL LLC? (Thus making that FL LLC a multi-member)

[Brighten Miller]

Full disclosure: not a lawyer, nor by any stretch an expert. However, I own 4 properties in 4 states and have looked into LLCs "extensively." (I intend to form a WY holding LLC ... eventually and keep putting it off because I don't feel like I have quite enough of the details nailed down.)

I think the answer to your question is technically yes... but it's probably Not the right question.

I believe out of state LLCs CAN hold your property but it is rarely worth it. You seem to gain negligible benefit from doing so unless you file that out of state LLC in FL (in my simplistic view of things this makes your WY LLC also a FL LLC).

What I intend to do is have in state (single member) LLC hold the title with that member being the WY (holding) LLC.