Thanks for your time, Damien! However, there is only one sentence in your reply that truly addressed my question, and that was "interest in an LLC is not real property". That helps. Are there any exceptions?
For more info: the lien is only real property, and I do not wish to pay it because we don't owe it. So far, California seems both disinterested in correcting the problem or pursuing collection. They issued the lien, and have since been silent. That could all change if they become aware of the LLC interest, so I take your advice to heart.
My dad's shares are already in a trust. He is splitting them up--and giving us ownership interest directly--due to the Jarvis Act of 197? in San Diego. The properties are currently taxed at a rate frozen in the 70's. That rate remains frozen until a) either the Jarvis Act is repealed, or B) more than 50% ownership in the LLC is transferred.
If my dad were to die, the current inheritance trust structure would trigger a 50% change in ownership, and put the company a light breeze away from a major increase in property taxes. However, there is a parent-to-child exemption. So he is proactively transferring ownership to us directly (by including us in the LLC).
With this additional info...can you see any other vulnerabilities the State of CA might exploit that we haven't already discussed?
Thanks, XXXXX XXXXX do need to drill this issue down a bit. I appreciate your time and answers, but do feel this question may need an expert whose wheelhouse is LLC ownership of real estate.
Do you know how I can pay for your help without closing out this ticket?
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