Arizona  |  Business Law

Legal Question

Asked on: 9/17/13, 2:33 pm

I have a vacation rental property in AZ and we just acquired another can I have these under the same Lcc or should aI create another for the second property?

1 Answer

Answered on: 9/17/13, 4:25 pm by Donald Scher

You can have both properties owned by the same LLC. Creating a second LLC would be for the purpose of limiting liability, arising out of ownership of each property, to one LLC, so that in the circumstance that one property becomes worth less or a judgment is taken against the owner of one property, the other property, and your interests therein, is not affected.

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Donald T. Scher & Associates, P.C. 2200 E. Camelback Rd., #102 Phoenix, AZ 85255

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