Tag: Academy

Real estate investors often form Limited Liability Companies (LLCs) to buy, sell, and hold real estate. When a buyer or seller of a property is an LLC, title companies request documentation related to the LLC. These documents help establish the identity of individuals authorized to do business on behalf of the LLC, prevent business fraud, and legally secure the LLC’s interest in a property.

The Articles of Organization are required by each state to legally form a limited liability company (LLC). Occasionally, the Articles of Organization may be referred to as the Certificate of Organization, Certificate of Formation, or the Articles of Association.

A certificate of good standing is a state-issued document demonstrating that a business is properly registered within a state, up to date on registration fees, and active. Business owners will usually only need a Certificate of Good Standing when it’s requested by a third party. It’s a good idea to prepare for the request before doing any of these activities.

An Operating Agreement provides explicit terms regarding the financial and operational rules of a limited liability company (LLC). it’s a vital business document for more complex transactions like buying and selling real estate.

These documents help establish the identity of individuals authorized to do business on behalf of the LLC, prevent business fraud, and legally secure the LLC’s interest in a property.

A legal description is the precise location and measurement of real property. While an address is often used to locate a property, legal descriptions are used when transferring title because they’re more accurate.

A recording instrument is any legal document that is recorded in the public land record system to convey the title of real property or show secured interest or release an interest in a property.