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RE Ownership Forms |
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In this article, we wrap up co-ownership forms by completing our discussion of community property. Considerations
Married couples owning a home or investment property in a community property state may want to consider converting the ownership to joint tenancy, especially where only one spouse will be incurring the majority of the debts. This way, at least half of the value of the property will be shielded.
Another approach is to convey the entire interest to the non-business-owner spouse. While this can be quite effective, it can at the same time be risky if there is a possibility of divorce.
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Transferring Real Estate to an Entity (Part 1) |
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In this article we will discuss moving properties owned in your personal name into an entity-—be it a corporation, LLC, partnership or land trust.
So, after considered study, you have planned out an asset protection plan that can also minimize taxes for your situation. Now, how should you move properties you already own into the entity or entities?
This is not difficult or complex at all. You simply deed the properties into the entity that should own it. But there are some issues to consider.
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Transferring Real Estate to an Entity (Part 2) |
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In the last article, we began our discussion of moving properties owned in your personal name into an entity—be it a corporation, LLC, partnership or land trust. Property Insurance
This can be a confusing area because each insurance company can make its own decision as to how they want the insurance policy to read for a property held in your entity. Since the entity is the new owner and is at risk of losing its investment in the property should the property be damaged, it should be shown as the policy holder.
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