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Buying home together

Asked by: Fran - 10 August, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 A friend and I are planning to buy a home together. What is the best way for us each to protect our interest in this home?
Answered by: Ray Albert - 11 August, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 Fran,

Generally when someone wants to own a property and separate it from their personal assets, they would register an LLC in the state where the property is physically located, and listing the company as the owner of that property.

If you plan on having multiple properties in the future, it may be a good idea to set up an initial entity to use as a holding company, where you could use one business to register and own different LLC's for each property, keeping each property separate from each other, and more importantly, yourselves personally.

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