Flanders, NJ asked in Real Estate Law for New Jersey

Q: Can I reduce liability by leasing my property to an LLC, who would then sub-lease property?

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1 Lawyer Answer
Leonard R. Boyer
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  • Clifton, NJ
  • Licensed in New Jersey

A: That is never going to work. A primary residence cannot be placed in an LLC. An LLC must have 3 members or more for it to be a valid legal entity. If you do not have an LLC custom-drafted by an experienced corporate attorney, it may not be worth the paper it is printed on. There must be a legitimate corporate purpose. Any attorney who would tell you that what you want to do is legitimate is setting up a potential fraud, which will accomplish nothing. You need to speak to a knowledgeable attorney to accomplish what you really want to do and whether or not it is good. Good luck.

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