Can an LLC protect real estate investments?

On Behalf of | Oct 24, 2018 | Real Estate LLC Formation |

Many Floridians choose to protect their real estate investments by creating a limited liability company (LLC) to legally possess assets they have purchased. The extra protection from risk offers investors peace of mind, especially when they own multiple properties.

Changing the terms of an LLC can be complicated and time-consuming. As a result, it is best to be sure when initially filing for an LLC’s incorporation that all the requisites are done and satisfy investors’ needs.

How long does it take to file for an LLC?

Florida generally responds quickly to applicants, with online forms receiving a response within a few days and mail-in forms answered within a business week. The lengthier part of the initial process is managing needs for the filing.

What do I need to create an LLC?

The two main requirements for an LLC are the officers and the articles of incorporation. Any executive officer must be listed along with his or her position and ratio of executive power in the organization. The articles of incorporation, which contain all regulations for the organization, are legally recorded along with the officers.

Can an LLC be changed after creation?

Officers may be removed by their own will or after death by the surviving officers but forced removal an officer is very complicated. Converting an LLC to a Florida profit corporation or other business entity is also possible but complicated.

Is a lawyer required to create or manage an LLC?

Officers may file on their own but it is generally recommended that a lawyer assists with the creation, conversion or termination of an LLC.