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Published: June 27, 2023
(Orlando, FL) Published in The Florida Bar’s July/August 2023 edition, “Transferring Real Property Into Limited Liability Companies in Florida: Benefits and Considerations” provides an overview of the benefits of transferring real property and issues property owners should consider prior to transferring real property into an LLC.
Joseph Percopo writes “transferring Florida real property into an LLC can provide important benefits, but property owners must first carefully consider the potential ramifications, including the loss of homestead status, the documentary stamp tax, loan acceleration, property tax increases, insurance issues, reduced financing options, ongoing LLC administration, federal tax issues, and Corporate Transparency Act reporting requirements.”
An experienced estate planning attorney, Joe Percopo works to ensure his clients are able to preserve their hard-earned wealth. He has been published in multiple publications, including the Florida Bar’s Real Property Probate & Trust Law Section’s ActionLine, The Florida Bar Journal, and the Orange County Bar Association’s Briefs on the latest estate planning topics. To learn more about Joe visit the following link: bit.ly/3XGutVW.