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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Wyoming Form

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LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate Wyoming Form

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why set up a Colorado LLC to own title to hold title to the property when eventually that LLC is going to be owned by a Wyoming LLC let's just start out with the Wyoming LLC to begin with here's why you don't want to do that because when you set up the LLC to to hold title of this property now it's in business right it's in the business of running out the property and every state requires that if you're in the business of rening out property that that LLC be registered in that state to do business so if you wanted to use a Wyoming LLC you would essentially have to register in Colorado as a foreign limited liability company to hold title to that property thereby defeating the whole purpose of setting it up in Wyoming to begin with because once it's foreign filed in y Colorado you lose all those anonymity benefits and the asset protection benefits that exists strictly when that LLC stays as a Wyoming LLC

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