Clarification on What legal structure is best for a small group? (Ann Zabaldo)
From: Copia Webster (copiawebstergmail.com)
Date: Wed, 26 Dec 2018 02:11:51 -0800 (PST)
Ann,
I appreciate your thoughtful response to my question.

To clarify, we are doing something different than most groups. For example,
none of the three questions mentioned apply to our group:
1. We will not be developing a building. We will buy an existing apartment
building and do light rehab to a couple of the units.
2. We will be buying the building as an legal entity, not developing as one.
3. Neither condominium, co-op or HoA will meet our needs, because we do not
want member’s individual creditors to be able to lien the building, nor for
heirs of deceased members to inherit any part or interest in the building.

Please be assured I do not feel that the legal entity question is simple.

The first professional we want to hire is an attourney that specializes in
the kind of legal vehicle we need. Hence our quest to determine what that
vehicle is.

Thanks,
Linda

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