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So... here's a wrinkle for you... unless you are a megacorp, a lender is generally going to want you to purchase in your name anyway, as that way your personal

So... here's a wrinkle for you... unless you are a megacorp, a lender is generally going to want you to purchase in your name anyway, as that way your personal assets are on the line. At a minimum if you are purchasing through an LLC, your terms are not going to be as good as what you would get personally. This leaves out cash transactions though, where there's no lender involved who would have a KYC requirement. In my state of residence, there is actually a clause whereby you can purchase a property in your personal name and transfer it into the name of an LLC - because there are a whole slew of additional (legitimate) reasons as a landlord or commercial owner why you would want the property not in your personal name.

nly 5y ago
The UK recently passed laws that require land (property) registration to include real names, even if the property is owned by a limited company. Also, most mortgages made to companies are backed some sort of Personal Guarantee by a director.
- poulsbohemian 5y ago
  This might be an English-to-English translation problem, given that we have related but different systems of law... what I'm arguing above is that we defacto have this already. If a property is purchased in the name of an LLC, it doesn't take me any more time to find the registration and contact info than it does for me to find the human owner. In fact, in the two states I do business I'd argue it's easier because there will be more information available about a registered entity than about some John / Jane Doe. As for a guarantee by a human director... well, yes, I guess that's my point - any mortgage company is going to want personal guarantees so it's a kind of self-policing system. Where this gets weird is when you have an LLC owned by another LLC or some other kind of corporate entity, where there really aren't humans involved. And as I originally noted, cash transaction are an entirely different matter (and it can be eye opening just how many properties are purchased with cash)

nly 5y ago

The UK recently passed laws that require land (property) registration to include real names, even if the property is owned by a limited company. Also, most mortgages made to companies are backed some sort of Personal Guarantee by a director.

poulsbohemian 5y ago
This might be an English-to-English translation problem, given that we have related but different systems of law... what I'm arguing above is that we defacto have this already. If a property is purchased in the name of an LLC, it doesn't take me any more time to find the registration and contact info than it does for me to find the human owner. In fact, in the two states I do business I'd argue it's easier because there will be more information available about a registered entity than about some John / Jane Doe. As for a guarantee by a human director... well, yes, I guess that's my point - any mortgage company is going to want personal guarantees so it's a kind of self-policing system. Where this gets weird is when you have an LLC owned by another LLC or some other kind of corporate entity, where there really aren't humans involved. And as I originally noted, cash transaction are an entirely different matter (and it can be eye opening just how many properties are purchased with cash)