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Joint Ownership of Property (BUSINESS & FINANCIAL & Corporate LAW)

Wed, 12 Jan 2005 08:17:00 GMT

My partner and I are aquiring a piece of residential property for summer use
and a motorcycle for joint use. Can some type of corporation be set up for
joint ownership of properties. We want to cover the properties with
insurance policies to cover any accidents that may occur or damages to the
property and at the same tie shield our personal liabilities from the joint
ownership.

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  • Wed, 12 Jan 2005 13:04:00 GMT(1)
  • "BMSpell" <bruce.spell@lawknowledge.org.us.bosch.com> wrote in message
    news:cs3iic$3i0$1@lawknowledge.org.ns2.fe.internet.bosch.com... My partner and I are aquiring a piece of residential property for summer
    use and a motorcycle for joint use. Can some type of corporation be set up
    for joint ownership of properties. We want to cover the properties with insurance policies to cover any accidents that may occur or damages to the property and at the same tie shield our personal liabilities from the
    joint ownership.

    You might consider looking into incorporation as a non-profit organization.
    Or coming up with a second business name and using that.
    Just as a couple of ideas.
  • Wed, 12 Jan 2005 16:57:00 GMT(2)
  • One option is to form a Limited Liability Company (LLC). It's less
    complicated than a corporation and has accounting and tax advantages.

    "BMSpell" <bruce.spell@lawknowledge.org.us.bosch.com> wrote in message
    news:cs3iic$3i0$1@lawknowledge.org.ns2.fe.internet.bosch.com... My partner and I are aquiring a piece of residential property for summer use and a motorcycle for joint use. Can some type of corporation be set up for joint ownership of properties. We want to cover the properties with insurance policies to cover any accidents that may occur or damages to the property and at the same tie shield our personal liabilities from the joint ownership.
  • Leave a Comment Now.

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