Legal Question in Business Law in Florida

I'm trying to purchase a property with an LLC. What type of LLC business should I create and does it have to be related to real estate or can it be any type of LLC business? For example: If I already own an LLC that deals with selling products online or online marketing, can I use those LLCs to put the property I will purchase under its name?


Asked on 7/17/10, 5:12 pm

2 Answers from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will advise you to set up a separate business entity (LLC, etc.) for each business you operate. This is also in keeping with applicable IRS guidelines. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/18/10, 8:37 am
Richard Kaplan

If you want, you can create one LLC to hold all your businesses, including holding real estate. However, you may have reasons to create multiple LLC's or corporations. To determine what is best, you should consult with a lawyer.

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Answered on 7/18/10, 3:27 pm


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