Like many of you, I set up my LLC with a company name and a doing-business-as name. I was wondering if there’s a way to just use the company name (or vice versa) on the purchase closing documents, and the DBA (or vice versa) on the sales closing documents. I anticipated being able to buy with one name and sell with another, but my title company says that’s a no-go. I know many people use one name for the buying side of the house and another for dispositions (website, marketing materials, etc)-- I was hoping to do this for closings as well. I just thinks it looks a little shady to my seller/buyer for the settlement docs to show “Business Name X, DBA Business Name Y,” with an address in Virginia, buying property in Florida… any suggestions on cleaning this up?
@scottholmes it’s fine to use two different names on your marketing and how you advertise yourself, but when it comes to signing legal documents, like purchase agreements, assignments, options and deeds, that’s when you’ll have to use your actual LLC name. Your LLC is a legal entity. Your DBA is not, it’s just a name tag you’re allowed to put on the shirt of your company.
It’s not a big problem for most people, because the other party won’t even see that name until they sign the PA and see the deed.
@charlotteirwin Thanks so much-- so at least I can just use the legal entity name on closings, I don’t have to put Business Name X, DBA Business Name Y, correct?
@scottholmes when it comes to any legal document (anything that could be consequential in a court proceeding or legal situation), I don’t mention my dba at all because legally speaking, it doesn’t matter. It’s just a branding tool to build recognition for the face(s) of your business, but that name isn’t the entity doing the transaction.
And also, I’m not a legal pro, so don’t take my word for it, but this is how I’ve seen everyone do it and it’s how I’ve done it for years.