Popular Real Estate Terms
The right to drain water through anothers property through a ditch, pipe, or trench. See also drainage right of way. ...
Bottom of a frame such as a window sill. ...
A joist to which a ceiling is attached. A ceiling joist usually consists of several small 2 x 4 boards nailed or mortised to the sides or bottom of overhead joists to which the ceiling is ...
There are two definitions of annexation in real estate. The first definition of annexation in real estate deals with the expansion of cities and the accompanying zoning laws. When a city ...
Subdivided acreage with utilities usually situated within or adjacent to established communities. ...
Restitution or compensation for harm or wrong done. ...
Document stating one has an ownership interest but not direct control in an asset, estate, or business. While one shares in the benefits of ownership including profits, the direct control ...
Money set aside to buy new assets when the older ones are no longer appropriate for the intended use. An example is when the landlord must replace a deteriorating and malfunctioning air ...
Linkage of property ownership that connects the present owner to the original source of title. ...
Comments for Escheat
When the administrator of an LLC dies and leaves abandoned properties properties. How can a member of of the LLC get the deeds to the properties?
Aug 06, 2023 07:25:13Hello Samuel! Thank you for contacting us!
If you’re a member of an LLC and you need to obtain the deeds to properties owned by the LLC, here’s a general outline of the process:
Determine your role and authority within the LLC. Different members have varying levels of decision-making power and responsibility. Ensure you have the necessary control to request and handle property deeds.
Consult the LLC’s operating agreement! This document defines the inner workings of the LLC, including roles, responsibilities, and procedures for property-related matters. It may include provisions related to obtaining and managing property deeds.
Contact the LLC Manager (in your case, the interim or substitute manager) to express your wish to obtain the property deeds. The manager might be responsible for handling such matters on behalf of the LLC.
Suppose you’re authorized to request property deeds as a member. In that case, the LLC might require a formal member resolution, like drafting a resolution document that specifies the property, purpose, and individuals involved in obtaining the deeds. Depending on the operating agreement, other members or managers might need to approve this resolution.
The deed is in the Register of Deeds or County Recorder’s Office. Contact the appropriate office in the county where the property is situated to inquire about their specific process for obtaining property deeds.
For more detailed assistance, don’t hesitate to get in touch with an expert real estate attorney! We wish you the best of luck!
Aug 14, 2023 04:43:55Have a question or comment?
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