All Forum Posts by: John Boby

My real estate agent forgot to check box that section is that a problem?

Hello,

I own a rental single-family house in Los Angeles which owns by my land trust name. The beneficially of land trust is my CA single member LLC.

Single-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply: The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member.

Am I exempt from AB 1482 or not?

I do this because of the privacy.

It's really hard to get insurance under the land trust for rental properties in California. Most agent wants to sell under my personal name and add my LLC name which is the beneficially of my land trust as a additional insured which do not make sense since the property title under the land trust. Any advice?

I am buying my neighbor house in California under a new land trust name which owned by my LLC. My current rental house is under same LLC. In future if I decided to build and convert both lots to one apartment building should I convert 2 parcels to 1 parcel? Also should I used one name on title for both properties.

On an investment property with no loan, that's rented out, who is the owner of the insurance policy?

The structure of ownership is as follows:

Title to the home taken in the name of the land trust. So the title says something like '123 main st trust, John Smith trustee"

The beneficiary is a LLC.

The holding entity that owns the LLC is a Family Limited Partnership.

So there are three entities that flow down in ownership top to bottom.

When taking an insurance policy out - who is named on the policy documents ?

How is the policy written ?

Thanks

R1 zoning Los Angeles how many stories and how many units you can build on the 10,000 sq ft lot?

R1 zoning los angeles how many story and how many unit your can builds on the 10000 sqr feet lot?

I am planning to purchase my Personal Residence in California under single member LLC and rent it to my self. Since I can not deduct my local tax from my tax return more then $10,000/ year. Any recommendation?

Hi Justin,

Can I see the updated lease addendum please