Legal Question in Business Law in Pennsylvania
Family rental property
My family and I are investing in a beach
property. there are 3 of us going in
together-not all equally. how would we
stucture ownership and do you think
we should form a llc
1 Answer from Attorneys
Re: Family rental property
There are several manners in which you could structure the ownership for the purchase. While an LLC is typically formed for similar investment property purchase, another option could be to form an LLP, with the general partner being an LLC and each individual being a limited partner.
With regard to structuring your ownership and how you wish operate, these are things which need to be addressed by each individual and discussed as a group. There are several options which are available, depending on the interest each partner would hold and how decision making would be handled.
Feel free to call me for a free initial consultation at 412.722.7171 to discuss further.
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