Q: How Do I Sell A Property That Is Held By An LLC?

Originally published October 11, 2010

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 hang-ups on down the line.