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re: LLC strictly to put property in
Posted on 9/23/23 at 1:20 pm to ThatsAFactJack
Posted on 9/23/23 at 1:20 pm to ThatsAFactJack
quote:
quote:
What state?
LOUISIANA
quote:
Bought rural acreage in LLC name simply to keep it from showing up under my name in a public records search (nosey ex wife to stupid to dig further than my name).
Hate to tell you but if this is a Louisiana LLC your info will be easily discoverable if you did not obscure it somehow with an attorney\agent. I recommend using Wyoming llc's for property holdings as they provide speed and privacy.
1
Posted on 9/25/23 at 8:27 am to Twenty 49
quote:
Twenty 49
quote:
Not sure where you are, but in LA an individual homeowner gets homestead exemption on property taxes up to the first $75 of assessed value on their residence, which can save a nice bit each year. Unless things have changed, the exemption does not apply if an LLC or other business owns the home.
This is correct. Once I build and do the final closing I will roll it all out of the LLC and into a personal loan in my name. This is just to provide enough cover for the 2-3 years I sit on the property until I build. The LLC will also be used for Rentals eventually.
Posted on 9/25/23 at 8:30 am to misterc
quote:
misterc
quote:
Hate to tell you but if this is a Louisiana LLC your info will be easily discoverable if you did not obscure it somehow with an attorney\agent. I recommend using Wyoming llc's for property holdings as they provide speed and privacy.
I have an agent so there will be that added extra layer to dig into which my ex will not do. But she will most definitely search my name anywhere possible to find out once she gets wind of it through my child.
Posted on 9/25/23 at 9:09 am to ThatsAFactJack
quote:
I have an agent so there will be that added extra layer to dig into
you will still have to list a member or manager with the state, so your name will be on it anyway.
starting next year, all LLCs will have to report beneficial ownership to the feds, which can then be shared with states, so not much use in going to the "anonymous" llc states for this purpose imo.
Posted on 9/25/23 at 11:43 am to lsujro
quote:
lsujro
quote:
you will still have to list a member or manager with the state, so your name will be on it anyway.
starting next year, all LLCs will have to report beneficial ownership to the feds, which can then be shared with states, so not much use in going to the "anonymous" llc states for this purpose imo.
Not trying to hide anything from state or feds, only a pain in the arse ex wife. All she is capable of is typing my name into the tax assesors website to see what comes up. By setting it up this way all she will see under my name is my current primary residence. She will not see the acreage I am about to close on or any rentals I purchase in the future.
Am I probably overcomplicating it, yes, but It gives me one less thing I have to deal with my ex wife on where she has no legal claim to be snooping anyway. It is for my peace of mind.
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