Key Takeaways
– It is important to know who owns an LLC when purchasing properties.
– LLCs are commonly used to protect personal assets and obscure ownership.
– State databases can provide information about LLCs registered within the state.
– Visiting local county clerk’s or Secretary of State’s offices can provide more information.
– Submitting an information request form may be necessary to obtain LLC ownership details.
Introduction
When purchasing commercial or residential properties, it is crucial to have a clear understanding of who owns the limited liability company (LLC) associated with the property. LLCs are a popular choice for property owners due to the protection they offer for personal assets and the ability to maintain anonymity. However, this can make it challenging for potential buyers to determine the true ownership of a property. In this article, we will explore various methods and resources that can help you find out who owns an LLC.
State Databases
One of the first places to start your search is the Secretary of State or Secretary of the Commonwealth website for the state in which the LLC is registered. These websites often maintain databases that contain information about registered LLCs within the state. By searching for the LLC’s name or registration number, you may be able to find details about the company, including the registered agent and the members or managers of the LLC. However, it is important to note that these databases may only provide information about LLCs registered within the state, making it difficult to find out the ownership of an LLC registered in another state.
Local County Clerk’s or Secretary of State’s Offices
If the state database does not provide the desired information, visiting the local county clerk’s or Secretary of State’s office in person can be another option. These offices may have additional records or resources that are not available online. By speaking with the staff or conducting a search in their databases, you may be able to gather more information about the LLC and its ownership. However, it is important to keep in mind that not all offices may have the required information, especially if the LLC is registered in a different state.
Information Request Form
In cases where the desired information is not readily available through online databases or local offices, submitting an information request form to the Secretary of State’s office may be necessary. These forms can usually be found on the respective state’s website and require specific details about the LLC, such as its name, registration number, and the purpose of the request. It is important to provide accurate and complete information to ensure a successful search. However, it is essential to note that the response time for these requests can vary, and it may take several weeks or even months to receive a response.
Conclusion
Knowing who owns an LLC is crucial when purchasing properties, as it helps ensure transparency and provides valuable insights into the ownership structure. While state databases can be a useful starting point, they may not always provide the desired information, especially for LLCs registered in other states. In such cases, visiting local county clerk’s or Secretary of State’s offices in person or submitting an information request form may be necessary. It is important to be patient and persistent in your search, as obtaining LLC ownership details can take time. By utilizing these methods and resources, you can gain a better understanding of who owns an LLC and make informed decisions when purchasing properties.
