Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law
This answer was rated:

Is it ok for me to purchase real estate with my personal

credit and then sign it...
is it ok for me to purchase real estate with my personal credit and then sign it over to an LLC that my c-corp owns?
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 11 minutes by:
9/1/2017
Michael Gonzalez
Category: Real Estate Law
Satisfied Customers: 542
Experience: Managing Member at Perez-Mena & Gonzalez, LLC
Verified
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.Two possible issues you may encounter:1. The bank who lent you the money likely has mortgage that prohibited transfer of the property without their consent;2. Your title insurance coverage would cover the LLC if you were the Single-member owner of the LLC. However, given your facts, your title insurance may not cover the LLC and/or the C-Corp. On possible way to protect yourself is to sign a warranty deed from you to the LLC as opposed to a quit claim deed.I highly recommend you consult with a local real estate attorney to protect your rights and interests.
Michael Gonzalez
Category: Real Estate Law
Satisfied Customers: 542
Experience: Managing Member at Perez-Mena & Gonzalez, LLC
Verified
Michael Gonzalez and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Customer reply replied 2 months ago
Information and education is what I seek. So I can have a c corp be the single member of an LLC? And that same LLC be the owner of real estate?
Can the same c-corp be an owner of an LLC s-corp of multiple owners? or would the new entity have be an LLC filing as a partnership?

I know how this could have been confusing in my attempt to keep it brief.

What I meant was if you as an individual deeded to a single member LLC, which happens to be yourself, then you will likely have title insurance coverage.

I do not believe the same would be true if the "single member" is a C corporation.

In other words, you as "Bill Smith" are obviously covered by title insurance. If "Bill Smith" transfers via deed to an LLC whose single member is "Bill Smith" then the LLC would also be covered by the title insurance. Any other scenario you propose may result in losing coverage.

Ask Your Own Real Estate Law Question
Ask Michael Gonzalez Your Own Question
Michael Gonzalez
Michael Gonzalez
Michael Gonzalez, Lawyer
Category: Real Estate Law
Satisfied Customers: 542
542 Satisfied Customers
Experience: Managing Member at Perez-Mena & Gonzalez, LLC

Michael Gonzalez 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:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

10,826 satisfied customers

16 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,657 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,367 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,899 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
I am looking for a cancellation of contract for real estate
I am looking for a cancellation of contract for real estate form … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,996 satisfied customers
I have a question regarding a real estate closing in
Good afternoon. I have a question regarding a real estate closing in Illinois. I requested to use a power of attorney so that I didn't have to go to the closing. I received several documents Warranty … read more
Barrister
Barrister
Lawyer
Doctoral Degree
10,826 satisfied customers
A real estate contract states that if financing can not be
A real estate contract states that if financing can not be obtained within the stated time frame, the contract is null and void. If financing can be obtained at a future date, can this contact be rein… read more
Gerald, Esq
Gerald, Esq
Juris Doctor
3,039 satisfied customers
My real estate agent and i completed a real estate
my real estate agent and i completed a real estate transaction back in November of 2007. there has been a problem with the transaction and i would like to take her to small claims court. however, i wa… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
Are you a Real Estate Attorney? California. My partner and
My partner and bought a home we had for 22 years he is not on Title and I… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,657 satisfied customers
Real estate question. NC. Mortgage. Need to know if fha pr
need to know if fha pr va loans will allow for spring water instead of well… read more
N.Brown ESQ
N.Brown ESQ
Juris Doctorate
11 satisfied customers
Can a Life Estate that was added into a real estate contract
Can a Life Estate that was added into a real estate contract to buy property be removed? Or can it be transferred to someone else without the consents of both the buyer and seller?… read more
LegalGems
LegalGems
Juris Doctorate
10,196 satisfied customers
In commercial Ohio real estate is their such an agreement as
In commercial Ohio real estate is their such an agreement as a NNN lease that is also a land contract installment which offers some type of equity ownership during or after the lease terms ?… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
If I'm a mortgage banker, can I own a real estate brokerage
If I'm a mortgage banker, can I own a real estate brokerage and have my agents use me as their preferred lender? … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
17,996 satisfied customers
I have a real estate question related to Florida Real Estate
I have a real estate question related to Florida Real Estate law. … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,495 satisfied customers
I signed a real estate contract today for the sale of a
I signed a real estate contract today for the sale of a townhouse (I am seller) to a person with whom I had an agreement to purchase on-contract. I realized after signing that when the attorney wrote … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,495 satisfied customers
Real estate law I'm the seller i signed real estate contract
Real estate law I'm the seller i signed real estate contract now i dont want to sell I initialed the contract instead of signing the sale price was illegible so the seller sent an amendment for me to … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
It is not a real estate problem it is about a person that
it is not a real estate problem it is about a person that was evicted and nowher to go … read more
Damien Bosco
Damien Bosco
2,998 satisfied customers
Florida Real Estate- Question about a Warranty Deed Contract
Florida Real Estate- Question about a Warranty Deed Contract for sale of a house in Florida:My deceased Mom's house is being sold by the executor: Would it be unreasonable for me to ask that a warrant… read more
Barrister
Barrister
Lawyer
Doctoral Degree
10,826 satisfied customers
I have a Reverse Mortgage and became behind on real estate
I have a Reverse Mortgage and became behind on real estate taxes. I entered into an installment agreement with Riverside County, which my lender ignored and paid in full with the County. Now the Lende… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,657 satisfied customers
Texas real estate lawyer: Texas Real Estate Title Question
Texas Real Estate Title Question1. H&W hold title JT WROS to a single family home. Their homestead which has been designated by Harris County as their homestead. 2. County allowed Over 65 exemption in addition to homestead exemption since 20133. Large judgment against H only in favor of federal govt was filed in 2000 or 2001 in Harris County4. Title history: a. H&W married since 1990 b. Property purchased by W only in 2003 and homestead exemption in effect in W's name only from 2004 to 2013 c. A “bogus” (wife never signed it) warranty deed was recorded in 2012 purportedly transferring title to homestead from W to H&W JTWROS.5. W is now 62 and H is 776. Does judgment against H only create a title objection if H&W want to obtain a mortgage or sell the house?7. If H deeds property “back” to W does judgment “go away” as a title exception?8. If H dies before W, does the judgment “go away” as a title exception allowing W to sell property?9. Assuming the answer to # 7 is no, then can W file a lawsuit in District court to have the bogus deed stricken/declared null and void? If so, what is the name of the lawsuit, i.e. an action to strike a deed or set aside or _____?10. In such a lawsuit would H be the only defendant necessary?11. Once it is filed, to save time can H file a consent to entry of a judgment declaring the bogus deed null & void?Thank you. … read more
Ray
Ray
Lawyer
Doctoral Degree
7,367 satisfied customers
Not exactly real estate law question. I have a home warranty
Not exactly real estate law question. I have a home warranty and requested repair on my AC unit in April. The home warranty company sent a contractor out. The short version is after 7 trips and 7 week… read more
Barrister
Barrister
Lawyer
Doctoral Degree
10,826 satisfied customers
Can you help with a real estate question? Texas - Warranty
No, I'm purchasing a property that is owned by a husband and wife, but the husband has passed and now I don't know who's signature I would need on the Deed. Just the wife or wife and kids? No will was left. … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 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