Legal Question in Real Estate Law in New Jersey
LLC for more than 1 commercial property
Is it wise to form one LLC to take title to each commercial building that I purchase or do I need a separate LLC(entity) for each?
2 Answers from Attorneys
Re: LLC for more than 1 commercial property
It is always important to seperate your assets in order to provide protection. By forming an LLC for each commercial property, you will insulate your other property and yourself from lawsuits that could be brought against any property for all kinds of reasons. I have had clients that failed to do so, and they find that one bad property has dragged them down because they did not set up seperate entities for each property.
It is not expensive to set up a seperate LLC. Feel free to contact me at 2155643722, if you have questions.
Re: LLC for more than 1 commercial property
what you need is an experienced attorney who handles commercial real estate.
go get one.
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