Can I sell a home in an llc?

I would of course need to review the documents associated with your question. But it sounds like instead of selling the shares of the LLC, you might enter into an asset purchase agreement and sell the real estate as the asset and keep the LLC. In the alternative, you could sell the LLC by selling the Units and the property as the accompanying asset.

Very truly yours,

Richard D. Weaver
Attorney At Law

The Weaver Law Firm
2000 West Loop South
Suite 1550
Houston, Texas 77027
Phone: 713-572-4900
Fax: 713-626-9708

www.WeaverLawyers.com


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The typical way to convey the home would be way of a deed (even if it is the only asset of the LLC). To answer your specific question: You CAN sell the shares/units in the LLC. The subsequent owner of the shares/units will own the assets (including the home) and liabilities of the LLC. Because liabilties are generally transfered in stock sale, some buyers would be hesitant to buy the LLC if they only wanted the home. If the buyer is willing to buy the shares of the LLC, title to the home would remain with the LLC. In any event, the buyer would still want to perform a title search, like in a normal transaction, even though the owner of record (the LLC) never changes. Unless you have a unique situation, you would likely convey the property with a deed and keep the ownership structure of the LLC in tact.

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