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Forming an LLC for Primary Home Ownership for Privacy

Asked by: Bob - 29 August, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 1- Can I own a property in Georgia with a Wyoming or Delaware LLC without registering another LLC in Georgia? (I know the WY or DE LLC can "own" the GA LLC, but I'm trying to minimize costs & redundancy). This property will be our home and will not be rented, but may be sold one day. The LLC will only hold the title for the property. 

2- Is there a material difference between WY & DE in LLC ownership of this scenario?

3- Do you have a view on which of those 2 is better in terms of cost & privacy? Thanks!
Answered by: Robert Kowalski - 30 August, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/35.jpg-687fc92d5f6c5febcbdccb6895b08b8c Dear Bob,

In a past we answered a similar question, and I invite you to check it out: Owning Real Estate in California with Wyoming LLC.

In short, technically one can own a property in an LLC, registered in a state different from the state where the property is physically located. However, the moment your property is used for commercial activity, such as renting, or is sold, the LLC would need to be foreign qualified in Georgia.

For privacy protection I would actually recommend New Mexico LLC instead of Wyoming or Delaware, due to special anonymity benefits provided by NewMexico LLCs, making them favorite tools of asset protection specialists. I invite you to read my answer to the following question" "Best state for anonymity?".

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