Posted: 3/5/2007 6:32:40 PM EDT
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I currently have a LLC with my brother for the purpose of sporting good distribution. I've recently got into real estate and need a LLC for tax purposes and various protections. Can i conver the LLC's use from sporting goods to real estate , or is that possible? Thanks! |
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I hear the lenders like LLC's because of liability protection in combination with isolating their security from other judgements, etc. If that's true it would seem out of character for them to let you comingle the property in the same entity with any other enterprise, past or present. In other words, they might be afraid that rents might be levied on by the Sheriff because of a product liability problem from your line of rocket-powered pogo sticks. |