I own two rentals through my sole proprietor LLC. Can I loan money to my LLC to buy a 3rd rental and record a lien against the properties? Properties are currently free and clear. Would have promisary note and record liens publicly.
Certainly you can do that, but the question is whether it would succeed in giving you priority over any unsecured creditors the LLC might have. Assuming there's nothing nefarious or fraudulent involved (such as trying to hinder other creditors, most likely yours but possibly the LLCs, from...Read more »
I cannot answer your question off the top of my head, but the two areas of possible concern:
(1) Are Indiana massage therapists, in general, subject to laws that would prohibit you from practicing in your home? Sources of possible restrictions include the provisions of the Indiana Code...Read more »
I am creating a product (a stand for giant marquee letters) for my company that uses someone else's patented magnet as a component. What type of copyright/patent permissions, if any, do I need from the magnet company?
The house was completely remodeled by us. We spent 40,000 dollars during two years we lived there. Bought home for 60,000 back in 2018. Moved to AZ while still paying property. PARENTS TRIED TO GET THE Approval FROM OWNERS TO HAVE THE HOUSE PAID OFF BY PARENTS GETTING A MORGAGE LOAN AND PAYING... Read more »
I am not sure I completely understand everything that has happened or the current situation, but under Indiana law, the seller under a valid land contract cannot take the property back except through a foreclosure. The property is sold, the seller is paid the rest of what is owed under the...Read more »
Depending on the specific facts, it could be an antitrust violation known as price fixing. To find out more, contact an attorney who practices in the area of antitrust or the Indiana Attorney General's office.
Im wanting to start an ecommerce website. Do I need a LLC to protect myself just to test the business and the market. However, I do have an ok savings but I do not want to get sued. I'm scared that I would lose my personal savings if I don't.
Note that I'm not a Michigan lawyer, and I can't tell you about specific Michigan requirements, such as whether you need to buy workers' compensation insurance or pay into the unemployment compensation program if you have just one employee. (My guess is that the answer to both is...Read more »
I am the sole member in my LLC, and am planning on adding one or two more members in the near future. There is no operating agreement therefor I am going off of Indianapolis law. It says it needs to be in writing, do I need to dissolve the LLC and form it with the new partners or can I sign... Read more »
If your LLC is currently taxed as a disregarded entity (i.e., like a sole proprietorship so that you report all the tax items on your Form 1040 instead of filing a tax return for the LLC), and you add members, you will need a new EIN. The LLC will then be taxed either as a partnership (the default...Read more »
It depends on what you mean by having your business tax and personal tax returns filed separately. The following answer has some information that you appear to already know, but I'll give a full explanation for those who don't. The answer you're likely looking for is at the end....Read more »
Not necessarily, but it is an area of concern. It creates a conflict of interest on the board of directors that must be handled appropriately. The conflict needs to be disclosed to the rest of the board, and the arrangement needs to be approved by the remaining disinterested directors or by a...Read more »
Searching old Indiana Code and can't find anything. Example - IC 28-13-10-1 references the above. IC 28-7-1-16(d) and IC 28-13-10-1(b) are similar except the latter states "Unless the articles of incorporation or bylaws provide otherwise...." I need to find which IC controls, if... Read more »
What does that mean? Once a bill is passesd by the General Assembly, it is called a Public Law and assigned a number. P.L. 14-1992 Sec. 163 refers to Section 163 of Public Law 14 signed by the Governor in 1992, but that's about all you can tell from the number. Public Laws are difficult to...Read more »
Given the connection of that name with the Hunger Games series, I'd be extremely cautious. Are you sure it's even a good business idea? In any event, you should consult with an intellectual property lawyer before using it in a business name.
It is a civil tort case. The plaintiff served me by publication and I have yet to see his original complaint, yet still just got sent a notice for deposition. The plaintiff even included costs of deposition. Do I have to go? There’s a hearing for a motion to dismiss scheduled and the courts... Read more »
I agree with Mr. Candiano. I’ll add that your attorney might decide to reach out to opposing counsel to negotiate a later date for the deposition, after the court rules on the motion to dismiss. However, as did Mr. Candiano, I’ll emphasize you should discuss it with your attorney. I’m...Read more »
I agree with my colleague that separating real estate holdings into different LLCs is generally a good idea to protect each property from any liability that might arise from another property. It is important to manage each LLC as if it is truly a separate entity in order to prevent a court from...Read more »
The Red Sox ‘B’ Service Mark, while used almost exclusively by the Boston Red Sox, is more closely aligned with representing the city of Boston as a whole… my business name utilizes the term BOSSTOWN, and I would like to use the ‘B’ Service Mark for the B in BOSSTOWN. The two businesses... Read more »
I see that you posted your question not only under Business Formation but also under Trademark. That's good because you need the advice of an intellectual property lawyer, someone who practices trademark law regularly. There are a number of factors to consider. Depending on the answers, the...Read more »
There are all sorts of types of vicarious liability, so there's not one single answer, but most law on vicarious liability is case law, not statutory. That means the principles have been established by written, published decisiohns appellate courts -- in Indiana, the Indiana Court of Appeals...Read more »
I created a LLC in Wyoming (based on a suggestion, for some reason). However I will be doing 100% of my business in Ohio. I am working on registering my business with the OH Sec of State and am super confused. They said I essentially had three options: 1) File as Foreign LLC in OH, keep LLC in WY.... Read more »
As always, answers to these questions should not be considered legal advice, and that applies to this question even more than usual because it cuts across state lines, and most lawyers are admitted in only one or a few states. Me, I'm admitted only in Indiana. So -- this is not legal advice...Read more »
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