Business Law

Ask a Business Lawyer. Get Business Law Questions Answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

Business Law

Can I Morgage my 50% of an LLC without the other partners

Customer Question
consent...
Can I Morgage my 50% of an LLC without the other partners consent
Submitted: 1 year ago.Category: Business Law
Ask Your Own Business Law Question
Answered in 28 minutes by:
4/13/2016
Business Lawyer: Infolawyer, Attorney replied 1 year ago
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 59,056
Experience: Experienced lawyer
Verified
The operating agreement of the LLC normally does not allow such conveyances. Therefore you could only do so if the partner consents since impacts him and who may become his partner if you default on the mortgage.
Ask Your Own Business Law Question
Ask Infolawyer Your Own Question
Infolawyer
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 59,056
59,056 Satisfied Customers
Experience: Experienced lawyer

Infolawyer is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

59,056 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

751 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

646 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

577 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
What are the differences between an LLC and a company that
What are the differences between an LLC and a company that becomes INCorporated? Thanks Kevin… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
What are the basic steps of starting an LLC, this is in
Hello, what are the basic steps of starting an LLC, this is in continuation tomy previous question.thanks… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I'm moving my 30% ownership interest of an LLC to my newly
I'm moving my 30% ownership interest of an LLC to my newly formed S-corp. What document or language do I need on the LLC side as well as on the S-corp side to properly document such a change?… read more
Asad Rahman
Asad Rahman
Attorney
J.D.
2,304 satisfied customers
I have an LLC question. Texas. I have an official LLC. I'm
I have an official LLC. I'm opening my own restaurant and everything is solely in my name and under my own LLC … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Forming an LLC in SC with a partner of mine, we will both be
forming an LLC in SC with a partner of mine, we will both be members. We are running a bitcoin mining operation, we plan to open a business bank account and get a fed tax id. When have bitcoin and nee… read more
Infolawyer
Infolawyer
Attorney
59,056 satisfied customers
I want to create an operating agreement for an existing LLC
I want to create an operating agreement for an existing LLC in Ketchikan, Alaska. This LLC is principally involved in cultivating cannabis and manufacturing cannabis products. This LLC is a legal and … read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,726 satisfied customers
If an LLC is established as XYZ LLC and they would like to
If an LLC is established as XYZ LLC and they would like to set up a non-for profit Corporation under it. How should they proceed? If the NPLC is dissolved, what happens to the assets? Can he NPLC be c… read more
Infolawyer
Infolawyer
Attorney
59,056 satisfied customers
I have a LLC business in the state of Texas. It is currently
I have a LLC business in the state of Texas. It is currently a sole proprioter. If I want to add 2 partners do I need to change it to a corporation? Or can I leave as is and just generate an agreement… read more
Ray
Ray
Lawyer
Doctoral Degree
30,914 satisfied customers
How can I cancel my llc. Ca. I just signed, for llc two
yes I just signed , for llc two weeks ago can I cancel ? … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,406 satisfied customers
If an LLC (A LLC) in Utah has as the only member as another
If an LLC (A LLC) in Utah has as the only member as another LLC (B LLC). If B LLC failed to renew and has an expired registration as 5/30/2017. Is A LLC not defunct under Utah Code 48-3a-701 (3), beca… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,440 satisfied customers
THe other member of a two member LLC abandoned the LLC
THe other member of a two member LLC abandoned the LLC leaving me with no financial data that is reliable and actually took some assets worth some $700+. I filed a small claims action but it has taken… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,726 satisfied customers
Is an LLC operating agreement between 4 members valid if
Is an LLC operating agreement between 4 members valid if only 3 members signed it ? … read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
IS A "C" CORPORATION REQUIRED TO HAVE AN OPERATING AGREEMENT
IS A "C" CORPORATION REQUIRED TO HAVE AN OPERATING AGREEMENT WITH ITS SHAREHOLDERS OR OFFICERS?… read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
Amending the Operating Agreement. We are replacing the sole
Amending the Operating Agreement. We are replacing the sole Manager in our LLC. The LLC has an Operating Agreement (OA) where the manager is indicated by name. Therefore we need to either amend the OA… read more
Michael Gonzalez
Michael Gonzalez
JD
525 satisfied customers
I am covered under an LLC operating agreement with a
I am covered under an LLC operating agreement with a noncompete clause. I have been told in an email (by the managing partner) that I am no longer a member due to a freeze-out merger but I have not se… read more
Ely
Ely
Attorney
Juris Doctor
577 satisfied customers
I am a member of a LLC and the operating agreement says "Any
I am a member of a LLC and the operating agreement says "Any member may inspect any and all records maintained by the LLC". The company lawyer says "Section 1102 of the New York Limited Liability Comp… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,700 satisfied customers
My LLC in does not have an Operating Agreement and 2 of the
My LLC in Virginia does not have an Operating Agreement and 2 of the members would like to voluntarily withdraw leaving myself and 1 other member with the LLC. Do we need an Operating agreement before… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I am a member in a NY LLC. The operating agreement says I am
I am a member in a NY LLC. The operating agreement says I am responsible for "development of [certain] software" and that this is an unpaid position, with no specific obligation of time. I have suppor… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,700 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x