The Duties Owed and Consent to Act disclosure forms must be discussed and clearly understood by the parties.7.

Trying to set my cell number for SMS messages, but there is no "consent box" to check to proceed.

California Rules of Professional Conduct, Rule 3-300 states:"A member shall not enter into a business transaction with a client; or knowingly acquire an ownership, possessory, security, or other pecuniary interest adverse to a client, unless each of the following requirements has been satisfied:(A) The transaction or acquisition and its terms are fair and reasonable to the client and are fully disclosed and transmitted in writing to the client in a manner which should reasonably have been understood by the client; and (B) The client is advised in writing that the client may seek the advice of an independent lawyer of the client’s choice and is given a reasonable opportunity to seek that advice; and (C) The client thereafter consents in writing to the terms of the transaction or the terms of the acquisition."

Further, the bank CAN NOT SELL that loan to me without borrower CONSENT!

The husband would also have to consent and sign off on the sell.

Broker must not disclose the following information without the informed consent of Seller: 5.2.1.

So your issue with the PM is that they authorized the repair without your consent.

All profits & losses to be split evenly, 50%Opening a separate bank account for the LLC to receive rents inAll Cash flow will be put into a reserve account until the reserve amount is met, then distributions will occur (haven't decided on frequency).Any time money from the reserve account is used it will need to be replenished before distributions kick in againIn doing some searching on the forums I came across a few ideas I think are good:Setting a purchase cut off amount for a member to transact business up to a certain dollar amount (say $500.00) without consent of all members.How things will be handled if either of us passes away, gets married/divorced, or wants out of the partnership etc.I'm sure there are things that I'm missing that are super important and thoughtful to have in the OA.

I know of at least one structure to do this which passes IRS muster, but it is likely to be prohibitively expensive:Form the LLC Draw up a promissory note from the llc to the IRAStructure the note as a convertible bond with a fixed interest (which can be adjusted by mutual consent)Note converts to equity upon sale (equity kicker)Hurdles: I believe this is bank dependent but common...IRA will have to own less than 20% of the equity so as not to be on the note, so the IRAs interest received should work out to about 50% of the return minus the 20% in an equal partnershipUBIT will need to be paid in the financed portion (not awful)Bank needs to be informed and agree to the bond being in second positionYou will likely need an IRA custodian sign offDon't try this at home!

I feel at this point it is best to get authorization and call the lender and find out what there true stance on the situation is, present them with the option of doing a loan mod/principle reduction or would they prefer to sale to an investor for all cash now with the written consent to sale the home back to the wife or option #3 foreclose and she buy it as a REO.