[WSBARP] execution on LLC

[Rick Hoss]

Check to see if there is a "pick your partner" provision in the LLC
operating agreement because your client may become an economic interest
holder with no rights. Sole member LLCs don't have these provisions.

 

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Craig Gourley
Sent: Tuesday, August 21, 2018 3:41 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] execution on LLC

 

Listmates.   Since I have never actually had to try to collect against an
LLC owned by a debtor I am hoping that someone on the list can share their
experience.  Debtor is the sole member of an LLC which holds real property.
My memory tells me that we need to seek a charging order against the LLC and
we can get any proceeds being distributed from the LLC to the debtor.    The
question is can we execute against the membership interest and take
ownership of the LLC entity and thereby defacto ownership of the real
estate?  Seems logical but also seems like I recall we cannot.   Insight??
Thanks!

 

Gourley Law Group

Snohomish Escrow

The Exchange Connection

 

1002 10th Street / PO Box 1091

Snohomish, WA 98291

 

360.568.5065

360.568.8092  fax

Craig at glgmail.com

 

 

Be Aware! Online banking fraud is on the rise. If you receive an email
containing Wire transfer instructions call us immediately to verify the
information prior to sending any funds!

 

CONFIDENTIALITY NOTICE: This electronic mail transmission may contain
legally privileged, confidential information belonging to the sender. The
information is intended only for the use of the individual or entity named
above. If you are not the intended recipient, you are hereby notified that
any disclosure, copying, distribution or taking any action based on the
contents of this electronic mail is strictly prohibited. If you have
received this electronic mail in error, please contact sender and delete all
copies

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20180822/ea794848/attachment.html>