Legal Question in Wills and Trusts in New York

Can a property with a life tenant be Inc.

A year ago,my mother transfered an income producing 4 family home to me. She reserved a life estate in this property. Can I incorporate the property.


Asked on 2/06/08, 7:22 am

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: Can a property with a life tenant be Inc.

Yes, and you should. However, I would recommend an LLC. It may be a little bit more expensive to form, however, the entity is more flexible than a corporation.

Mike.

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Answered on 2/06/08, 7:29 am


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