Posted by karp on November 08, 1998 at 14:47:49:
by Bill Bronchick…
BTW, Bill if you read this, I am working on your ski trip…
Thanks,
karp
Personal or corporation owned properties? - Posted by Matthew Chan
Posted by Matthew Chan on November 08, 1998 at 14:10:56:
I am currently investigating the best structure to deal with the ownership of properties that I will be acquiring. In a personally-owned property, you will take on all the credit history issues whether things go well or go bad. There is also the issue of liability.
In a corporation, liability is limited if something catastrophic which caused nonpayment (heaven forbid). However, I am concerned that there may be additional complexities or even fees with this. A I correct?
I want confirmation mainly because I am going through this very issue right now. I would like to have the corporation (under a holding company or something) do it from the liability standpoint.
When would it be appropriate to put title of property in your name and when would it be appropriate to put under a corporation? Thanks!
Re: Personal or corporation owned properties? - Posted by Bud Branstetter
Posted by Bud Branstetter on November 09, 1998 at 13:07:23:
Bill Bronchick has a number of articles on the subject. Generally you do not want to hold investment property in a corporation. You want to hold them(or the beneficial interest of the trust) in a limited partnership type of entity. You can have the coporation manage the properties for liability issues. The corporation is suited for properties that you are going to do business by flipping or L/O’ing.