Legal Question in Business Law in Delaware

General Partner of Limited Partnership

We are considering starting up a Real Estate Investment Fund. We are going to structure it as a Limited Partnership and only sale the interests to Accredited Investors. My question is if we use and LLC as the General Partner are there any safe harbor laws that require the LLC to have a certain Net Worth or amount of assets?


Asked on 7/21/03, 2:57 pm

1 Answer from Attorneys
Anthony DeWitt Bartimus, Frickleton Robertson & Gorny, PC

Re: General Partner of Limited Partnership

Your best bet is to see a corporate lawyer and have him draw up the necessary paperwork. Keep in mind that a Real Estate Investment Trust is a complex business organization, and there are often as many ways to do things wrong as there are to do things right.

See a competent business organization attorney before taking any action in order to secure a solid opinion on the propriety of what you're doing.

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Answered on 7/21/03, 3:02 pm


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