When Purchasing Real Estate Through an LLC Makes Sense by Daniel Levinas, Esq.

As a real estate attorney, one of the most common questions that come across my desk is, “should I purchase [my condo, co-op, townhouse, investment property, etc.] with an LLC?” My answer is always the same – it depends on your objectives. There are various pros and cons to purchasing real estate with a limited liability company, especially in New York. While this article is not a tell-all with respect to those pros and cons, it should help you make an informed decision. The Pros of LLC Ownership: First and foremost, LLCs are widely used to purchase real estate specifically due to the very reason they were devised—limited liability. If, for example, you are an investor with a large portfolio of assets, using an LLC will help shield your other assets from liability in the event an accident takes place on your property (i.e., a slip and fall, fire, or some other casualty). To the extent an accident does take place on your property and you do own the…

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