DBA Or Fictitious Name In REI?

I was wondering if doing a DBA("doing business as"wink is a good idea to start in REI. We want to do a few deals and then start a LLC? Anyone done a DBA before?? I've heard that using a DBA can make it difficult to get title insurance. When would you need title insurance? We would like to get into flipping(assigning contracts) foreclosures and sub2's. Any feedbacks??

Comments(7)

  • DaveREI5th October, 2003

    Most states require you to have a dba if you are acting as a biz... even if you are using your own name... check your local laws... try secretary of state....

  • kfarzin745th October, 2003

    how about title insurance? Any ideas on that?

  • GFous5th October, 2003

    a DBA is used if you are using a fictitious fname. You cannot buy anything in a fictitious name, so you cannot title it. (This is true in Florida, in any case).

    Keep in mind that if you start an entity and name it ABC Company, that is not a fictitious name. That is a real name.
    [addsig]

  • jorge1215th October, 2003

    Because a DBA has no legal status you cannot take title in that name. A DBA is simply another name, or more properly a fictitious name used by the individual. You could take title in your own name and obtain title insurance that way.

  • snek116th October, 2003

    Is there any benefits to purchasing with an assumed business name then?

  • GFous7th October, 2003

    Quote:
    On 2003-10-06 20:08, snek11 wrote:
    Is there any benefits to purchasing with an assumed business name then?


    You cannot buy in an assumed name. You must use the name of a real entity.
    There are advantages of buying in an LLC that you own. There are many posts ther about that
    [addsig]

  • JohnMerchant8th October, 2003

    While I'm not sure about BUYING in DBA, I am sure you'd have great difficulties SELLING and passing good title, if you did so.

    Let's say you did buy Blackacre in name of Ajax Group, and managed to get that deed recorded...how would you prove to any buyer's or title co.'s satisfaction that Ajax Group exists, who they are, etc. when it comes time to sell?

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