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Updated 8 months ago,
LLC or Trust?
I am looking to purchase a 10 unit apartment. Should I purchase it in an LLC or a Trust? I am a little confused as to which entity to place it in and how. Do I purchase it in the name of the LLC and then quit claim it to the Trust, and, if so, are there any consequences? As far as getting financing - is it easier to get financing in the LLC or Trust? If I purchase in the name of the LLC and move it into the trust then the LLC no longer owns the property (mortgage) and are there tax consequences for the LLC to do this and should I dissolve the LLC? Is there a better way to structure this? Any help is appreciated.