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Updated over 4 years ago on . Most recent reply

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22
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Trevor Levine
2
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22
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Can a WY LCC own a % of a CA property if it's a passive investor?

Trevor Levine
Posted

I own 20% of a CA investment property. I'm a T.I.C. partner and passive investor. Meaning, the 80% partner is doing everything from renovations and repairs to property management. I do nothing except receive quarterly distributions. 

I want to deed my 20% into an LLC. Can it be a WY LLC? Or must it be a CA LLC?

I'd prefer a WY LLC for two reasons. First, the annual renewal fee is lower. Second, it offers charging order protection.

Most Popular Reply

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Aaron K.
  • Specialist
  • Riverside, CA
3,800
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6,241
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

I think CA will hunt you down for their pound of flesh on this one. probably you'd be better off owning 20% of whatever LLC holds this property or you and your partner each get to pay $800 per year.

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