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Updated about 4 years ago,
Can a WY LCC own a % of a CA property if it's a passive investor?
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.