Posted by MN~Chicago on April 19, 1999 at 23:08:13:
Situation:
Buying property listed in historical area.
An 8 year tax freeze goes to the original
purchasor.
House is owned by a LLC. I can buy out
the shares of the LLC and retain the tax
break.
Question: Will there be a problem getting
title or financing for new ownership while
retaining the existing LLC?
This will be put forth to my attorney for
an answer, but I wanted to test the collective
knowledge here.
Thanks