3 horror stories of LLC ownership

In California – the limited liability company or LLC is the most common way most commercial real estate is owned.
Individuals within an LLC are known as members. Members are governed by an operating agreement that outlines whom within the LLC are authorized to sell, buy, and borrow. Also, percentages of ownership are specified in the case of multiple members.
Why an LLC? Because they come with a multitude of tax advantages and liability protection, which are beyond the scope of this column