Legal Question in Real Estate Law in Colorado

If we are purchasing a home through an LLC that is owned by a LLLP, how should we take title to the home?

Asked on 3/07/13, 8:21 am

1 Answer from Attorneys

Dave Rich Flatiron Legal Advisors, LLC

The LLC would take title to the property. If the LLC is manager managed by an individual, the individual could sign on behalf of the LLC. If the LLC in member managed and the LLLP is the sole member, the managing partner of the LLLP (or a LLLP partner with authority to do sign) would sign on behalf of the LLLP as the managing member of the LLC.

If it is the later, it would be something like, "Buyer: ABC, LLC, by DEF, LLLP, its managing member, by Joe Smith, its managing partner" You also could confirm with the title company. You might also consider filing a statement of authority for the LLC to deal with the property now - again, you might ask the title company about this. I hope this helps.

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Answered on 3/07/13, 9:02 am

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