So I bought 5 parcels in Arizona at a tax deed sale. How should I receive title to these properties so it is easy and quick to resell. Should I have my own name in it or should it be in my LLC(I already have one established). What are the pro’s and con’s? What are the other things I need to watch out for?
@chandana there isn’t really a right or wrong answer to this. An LLC will give you some personal liability protection and possibly some privacy protection (depending on what state it’s registered in) if you hold title in that entity. However, if you own it in your personal name, it will eliminate a little bit of complexity in the closing documentation when you buy and sell because you won’t have to prove your ownership of the entity.
Otherwise, it’s not a hugely consequential decision. Even if you take title one way, for now, there’s no rule saying you can’t change your mind and quit claim the property from your LLC to your personal name or vice versa.
1 Like