Books, Mags, Explaining LLC, Etc
Hey All I'm new to this forum and to real estate. Is there a good book that can explain the ins and outs of incorporating? I know nothing and feel like I need to be an expert .
Thanks!
If you want to look at this for asset protection, Mark Warda has some good books on the subject.
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Thanks for the info! Yes, I am looking for the info as asset protection. I should have stated that up front!
Thanks
I agree with Mark Warda also william Bronchick-I also got a good one from the library-Asset Protection made E-Z-check your library you'll be surprised.
Since you're in California, you should also out to check out www.nolo.com since they are THE source for self-help legal anything. Tons of reasonably priced info there, and they even sell do-it-yourself incorporating kits.
The magazine "Inc" has lots of good reading on LLCs & corps.
when you say "child" are you saying less than 18 years of age? If so, i'm pretty sure they can't sign anything that is binding, including deeds.
1st of all you need to establish what right the child has to the subject property!
Was there a will?
Was there a living trust?
Probate is not a necessity in all cases as it all depends on the estate value, federal and state probate laws and how the estate was structured.
I would highly suggest hiring a real estate attorney to insure an uncontested transfer of the subject property be correctly.
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If the child wants to sell the property inherited from parents, order a title insurance commitment from a title company there. Talk with the title officer or underwriting counsel about the facts. If a Will or Trust, you'll have to go by those provisions. Without a Will every state has automatic intestate succession laws that pass title to heirs.
In some states, legal ownership passes automatically, so no probate may be needed and the sale could be insured based on deeds from all the likely heirs.
A lawyer might not be as quick to advise that no probate or legal fees are needed.