OfflineIf you're using an LLC to purchase a property, Double-close, assign, or whatever strategy - do you have to use your name or can you put the LLC's name?
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Your Name and or assign(s)...
Posted on: Mon, 06/30/2014 - 15:32
If you're using an LLC to purchase a property, Double-close, assign, or whatever strategy - do you have to use your name or can you put the LLC's name?
If you are using an LLC to purchase the property the offer is made in the name of the LLC, not yours. So XYZ, LLC and/or assigns goes on the line for purchaser. When you sign the contract, you will sign XYZ, LLC and then your name below that.
On the Assignment Agreement, the assignor (you) is written in as XYZ, LLC (no personal name) but signed the same way as above.
Karen
"You're never too old to be what you were meant to be!"
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If purchasing with a LLC you can put your LLC name on the contract right before assign or assignees and the as Karen Mentioned above you can sign the contract under the LLC and print your name at the bottom of the contract.
Reynold Orozco
It should look like this at the end of the contract:
ABC, LLC and/or assigns
(Signature Here)
By (Your Printed Name), Member
The other places in the contract should just read ABC, LLC and/or assigns
I thought that might be the case but wanted to be sure.
ABC, LLC and/or assigns
(Signature Here)
By (Your Printed Name), Member
The other places in the contract should just read ABC, LLC and/or assigns
The "and/or assigns" is not put into the signature area. Only on the contract where the purchaser/buyer name goes. I actually have and/or assigns already typed on my contracts at the end of the "purchaser/buyer" blank so that it is not so blatant on my contracts as when it is written in.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"