All Forum Posts by: Jenny Tai

If I set up a LLC to invest in real estate, what will happen in case of a divorce?

Will my spouse be entitled to the properties I purchased in the LLC?

What's the best way to ensure that my future partner is not entitled to the property that I invest in prior to the marriage (including appreciation and such)? Will setting up a trust and putting myself as the beneficiary be a good solution?

If I place additional capital into a LLC during the course of the marriage, does the property I purchase using that capital count as community property in case of a divorce?

I'm considering setting up a LLC to invest in real estate with friends. I have a few questions around the operating agreement and will very much appreciate your insights.

1. What are the conditions/clauses to leave the LLC ?

2. How will the LLC use the profit generated by the investment? Does profit get distributed to all LLC partners? Or does profit go into a common pool for future investment?

3. In the event that one member needs to cash out and the other members cannot afford to buy out the exiting share, what will happen in that case?

4. What type of insurance should we buy for the LLC?

5. What are the rules to buy the house? Do all the parties have to be there to review and sign the paper? If one person objects the house, does that mean the purchase of the house will still proceed?

6. What will happen to LLC if any of the members declare bankruptcy?

I'm considering purchase a property using a LLC.

I'm hoping to get more clarification on the following questions:

1. How would the income and expenses from LLC be taxed for each member of the LLC?

2. Are there special requirements to set up a bank count and have the LLC as the owner? What are the best way for each member to contribute capital to the LLC?

3. Do we need a different LLC if the properties are located in different states?

I'm considering setting up a LLC and purchase properties under the LLC to limit potential liabilities.

I'm wondering: 

1. What are the requirements for a mortgage to be under a LLC?

2. Are there companies that are better to get a mortgage from for the LLC

I'd greatly appreciate any advise, links or reference material. 

Thank you!