Attorney Eric S. Johnson created a Limited Liability Company (LLC) to hold and manage real estate owned by several people in Bayfield County

06.30.2017

Attorney Eric S. Johnson created a Limited Liability Company (LLC) to hold and manage real estate owned by several people in Bayfield County. Many issues can arise regarding vacation or hunting property with several owners. There are common expenses, such as taxes, insurance, maintenance and improvements. Questions can also arise, such as who decides whether to make repairs or improvements, or what happens when one or more members fail to contribute to common expenses. An LLC can provide the structure to address these issues in a way that is both orderly and fair.