In most cases you have your answer the day you call!

You receive a live consultation with an attorney. This is not a paralegal or self-help service.

 Hotline Services for Undeveloped, Residential or Commercial Properties Owned by Businesses for Their Own Use

  • If you own, or are buying, undeveloped, residential or commercial property for use in your business, then our service is even more important for you.
  • If you are interested in homeowner issues, then visit the Residential section.
  • The managers of a business often feel their title issues are simple and they can take simply take title in the entity's name. This is usually incorrect. First, it puts the real estate at risk for the operating business's liabilities. Secondly, it assumes that the entity is the proper kind to hold real estate. For example, a "C corporation" is often a good form to hold an operating business but usually is not a good form to hold real estate title for income tax reasons. Moreover, each entity must be properly formed, funded and maintained to limit liability.
  • There are typically considerably different considerations for income taxes and property taxes for the operating business and for the real estate. These reasons alone are usually sufficient to be sure that the operating business is held in one form of entity and the real property is held in another.
  • Business entities often have multiple owners. With today's constantly changing trends, businesses should also consider many other issues such as: possible claims by an owner's former spouse; management in the case of officer/manager disability; transfer of interests on death, particularly buyout terms; asset protection; pre-structuring for 1031 tax-deferred exchange; rolling over property tax bases, and many other issues. These may be different for the operating business versus the real property. A Hotline consultation will address these and other pertinent topics.

Generally, the operating business and the real estate should be in two different, and different kinds of, entities.