Re: Property not titled in Corp. Name and taxes - Posted by John Burley
Posted by John Burley on February 04, 2001 at 14:10:33:
The good news is that you don’t want the property in the corpl anyhow. If the corp. gets sued and loses the property is gone. Never hold real estate in an entity that is active in other activities (such as buying and selling real estate).
Instead hod the real estate in an LP, LLC, or Trust (thus placing separation between the acts of the corp. and the asset).
Most likely the best way to proceed at this point would have the corp. make a loan to you (or the entity) with a repayment schedule and interest charged, (high or low) whichever works out best for you and the corp. on a tax point of view.