Legal Question in Real Estate Law in Florida

Limited Partnership

My husband wants to set up our new home in Florida in a Limited Partnership. He and I would be General Partners with his son a Limited Partner. What are the implications to me in the event of his death before mine. My name will not be on the Mortgage. It will be on the Deed. I need to know that I would be able to sell the property or do whatever I need without the okay of anyone else--including the Limited Partner.


Asked on 3/23/07, 8:37 am

1 Answer from Attorneys
Johm Smith tom's

Re: Limited Partnership

This can't be properly answered without taking the time to go over all teh facts. When people set these types of things up without consulting an attorney or accountant, they usually don't know all the facts. If you are talking about your most valuable/important possessions, then you should consider geting advice from an attorney representing ALL involved at the same time before you set it up. Even better, you should get your own attorney to review this for you specifically so you know your best interest is their focus.

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Answered on 3/23/07, 9:38 am


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