RE: legal structure: varys with state laws | <– Date –> <– Thread –> |
From: Rob Sandelin (Exchange) (RobsanExchange.MICROSOFT.com) | |
Date: Wed, 27 Mar 1996 10:53:24 -0600 |
My friend Buzz wrote: >Therefor, I strongly recommend Cascadia Cohousing become an LLC. This >is the >legal instrument that accountants are putting many of their clients >into >nowadays. A Limited Liability Company has Members, not Shareholders, >and the legal and financial aspects are quite similar. I would point out that WA state, which is where Cascadia Cohousing is from, has no such thing as an LLC. Laws governing partnerships, incorporation, condos, coops, etc. are all state juristiction, with wide variation amoung the states. If you are going to get specific legal form advise and sample documents, get them from the groups in the state you are building your development in. Every state has its own laws regarding property ownership and you can waste a lot of time figuring details which will not work with your state laws. There are most likely some common denominator progamming sorts of legal issues which cut across all states. You could break most legal ownership details down into a series of questions and then get the answers from your own state.I keep hoping some bright person will draw that list up for us someday, sure would be useful Rob Sharingwood.
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