Hello! I am 16 years old and partnering with someone who is over 18, we are creating such an entity for our deals involving real estate, and our other ventures.
Our entity will he under an LLC, and I was curious as to if I too can be written as a member of the LLC, and if this comes with certain restrictions.
What must be taken to write me under this?
When registering online, is it enough to leave my name under “Company Officials.”
Are there age restrictions to being an organizer : member?
Please let me know! Thank you.
Whether minors can be LLC members or not is state-specific. My state doesn't have an age minimum so my boys have been members since they were babies. Check your state SOS site.
Whether you can contractually sign for material (important) matters is another thing. As a minor, you can't contract. I'd stick to being a member vs member mgr, organizer, etc.
Congrats on looking into this at such a young age, Owen👍
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you