Legal Question in Business Law in Arizona
I have a vacation rental property in AZ and we just acquired another can I have these under the same Lcc or should aI create another for the second property?
Asked on 9/17/13, 2:33 pm
1 Answer from Attorneys
Donald Scher
Donald T. Scher & Associates, P.C.
You can have both properties owned by the same LLC. Creating a second LLC would be for the purpose of limiting liability, arising out of ownership of each property, to one LLC, so that in the circumstance that one property becomes worth less or a judgment is taken against the owner of one property, the other property, and your interests therein, is not affected.
Answered on 9/17/13, 4:25 pm
Related Questions & Answers
-
I've searched everywhere, including AZ State Legislature, but cannot find any... Asked 9/16/13, 11:29 am in United States Arizona Business Law
-
Is a no refund policy required to be posted in a store or be told about it to be... Asked 9/14/13, 4:04 pm in United States Arizona Business Law
-
I am being sued by Northern Leasing in New York County Civil Court for a credit... Asked 8/08/13, 2:51 am in United States Arizona Business Law
-
Can I be denied employment because of an employers religious beliefs Asked 8/02/13, 9:29 am in United States Arizona Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
