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Does Real Estate Owned by a LLC Have to be Included in a Bankruptcy

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  • 01-06-2017, 12:03 PM
    lawfacts
    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?
  • 01-06-2017, 02:30 PM
    Mr. Knowitall
    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.
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