Legal Question in Real Estate Law in New Hampshire

Re: Buyin Real Estate with Business Partners

I work extensively with real estate developers, owners and small business entities. It is always advantageous to formalize a business relationship especially when dealing with real property assets. Depending upon the make-up of the group, and the consensus regarding the group's goals, the real estate should be owned through a corporation, general partnership, limited partnership or trust. The primary goals in formalizing the relationship and in using a legally recognized entity are to (1) limit the individual investor liability, (2) anticipate all contingencies for dissolution of the venture, removal or the exit of a partner and distribution of profits or losses, and (3)through the process of formalization, to better understand the respective responsibilities and goals of the other investors/partners.

If you would like more information or would like to schedule a meeting, please call my office at (978) 318-3986 or email me at [email protected].

Good luck.

Re: Buyin Real Estate with Business Partners

I work extensively with real estate investors, owners and small business entities. Real estate investments by groups should almost always be formalized by written agreement. Depending upon the make-up of the group, and the consensus regarding the group's goals, the real estate should be owned through a LLC or corporation, general partnership, limited partnership or trust. The primary goals in formalizing the relationship and in using a legally recognized entity are to:

1. Limit the individual investor liability

2. Provide for contingencies such as dissolution of the venture, removal or the exit of a partner and distribution of profits or losses

By using a formal agreement you will be able to avoid many if not all future misunderstandings by agreeing upon in advance the respective responsibilities and goals of each member of the group to the others.

If you have additional questions, please do not hesitate to contact me.

Re: Buyin Real Estate with Business Partners

Hi and Thanks for Writing -

My name is Len Foy and I am a real estate attorney licensed to practice in both Mass and NH. My associate, Emma Hilton, specializes in business organization and formation, LLCs, limited partnerships, etc.

If you're interested in scheduling a consultation with us, feel free to call our office at (603) 434-3437, either ask for Emma, myself or Sonja to schedule an appointment. There is no charge for the initial consultation.

I look forward to hearing from you.

Regards and Good Luck -

Len Foy

Law Offices of Gould & Gould