Legal Question in Real Estate Law in Colorado

if one has numerous multi family rental buildings owned by different entities with different members is it legal to comingle the funds in a single account for all the different partnerships

Asked on 6/14/13, 3:44 pm

1 Answer from Attorneys

Robert Murillo Pivotal Legal Ltd.

It is not really a question of legal. It is a question of legally prudent or not. It is not prudent to commingle funds as that opens up a risk of piercing the veil of limited liability, depending on the facts. If you have multiple properties with multiple members, you should have legal counsel to review the agreements and advise the entities.

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Answered on 6/14/13, 4:15 pm

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