Does Real Estate Owned by a LLC Have to be Included in a Bankruptcy
The owner of a single member LLC is declaring bankruptcy. The LLC owns real estate. Does that real estate have to be included as an asset of the debtor in a Chapter 7 bankruptcy?
Re: Does Real Estate Owned by a LLC Have to be Included in a Bankruptcy
No, the real estate does not have to be listed as an asset of the debtor, as the LLC is a separate legal entity.
However, the LLC itself will need to be listed as an asset of the debtor's estate.