Purchasing an existing LLC

[Maggie Nickerson]

Good morning fellow BP's,

When purchasing a property that is owned by the LLC how do you, as the buyer protect yourself from prior leans or debt taken on by the current member (seller)

I'm considering purchasing an income property, a vacation holding and I am wanting to buy the business, name, website, media accounts, reputation, customer list and established vendors.

What would be the best strategy for this type of purchase, I want to protect myself from prior LLC member debt.

Thank you in advance,

Maggie

[Charlie MacPherson]

Talk with a qualified attorney, but my advice is to structure the deal such that you buy the ASSETS of the business, but not the business itself.