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Updated over 12 years ago, 08/17/2012

User Stats

5
Posts
1
Votes
Dan R.
  • Rehabber
1
Votes |
5
Posts

LP vs. LLLP?

Dan R.
  • Rehabber
Posted

To own my LLC's for my rental properties I am going to set up an LP or LLLP in Delaware(I am concerned about privacy because my wife is a surgeon). I would also do it in Delaware because in my state Georgia it is legal for a foreign entity to not register and own GA LLC's.

I am also doing it to transfer interest to our children.

My question is would you do an LP or LLLP?

I know if I did an LP I would definitely make an LLC the GP. If I went with an LLLP would it be necessary to have the LLC as GP? Can the LP/LLLP own the LLC that is the General Partner?

So my set up would be like:

BLUE PROPERTIES LP or LLLP(Delaware)

owns:

ABC LLC, DEF LLC, GHI LLC, JKL LLC, MNO LLC, etc. (Georgia)

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