Q: How do I sell a property that is held by an LLC?

A:  An LLC, or Limited Liability Company, is controlled by one or more managers.  Typically the manager will be granted the authority to convey real property by the “LLC Operating Agreement.”  It is a good idea to get a copy of this Agreement early on in the course of a transaction and to get it to the Title Company well in advance of closing so they can verify there are no issues with the Manager’s authority.  I get a copy of the Operating Agreement when I take the listing agreement with the seller so that we avoid any hangups on down the line.

Leave a Reply