Richard J. Fox, Esq. is the principal of The Law Office of Richard J. Fox PLLC where his practice focuses on residential and commercial real estate transactions and real estate-related litigation. He is a nationally recognized Continuing Legal Education speaker, presenting on topics ranging from boundary disputes and title issues to closing practices and ethics. Mr. Fox is admitted to practice in Vermont, Massachusetts, and before the U.S. District Court for the District of Massachusetts. Mr. Fox earned his B.A. degree from Rutgers University and his J.D. degree from The George Washington University Law School.
Holding Title: Helping Clients Choose the Best Option
CLE Credits earned: 2 GENERAL (or 2 LAW & LEGAL for WA state)
When acquiring real property, identifying the proper entity to hold the property can be as important as securing financing and clearing title. Entity selection can have consequences for taxation, risk management, operational flexibility, and future conveyancing.
This session will provide an overview of the multiple types of entities available, considerations to address when selecting an entity, and practical aspects of holding title with an entity. Participants will learn financing issues, liability concerns, and the best strategies to mitigate them.
Key topics to be discussed:
• Types of entities
• Holding real estate
• Advantages with specific entities
• Risks with specific entities
Date / Time: December 18, 2019
• 11:00 am – 1:00 pm Eastern
• 10:00 am – 12:00 pm Central
• 9:00 am – 11:00 am Mountain
• 8:00 am – 10:00 am Pacific
Choose a format:
• Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
• On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.
myLawCLE seeks accreditation for all programs in all states. (Accreditation for paralegals sought thru NALA and NFPA paralegal associations.) Each attending attorney/paralegal will receive a certificate of completion following the close of the CLE program as proof of attendance. In required states, myLawCLE records attorney/paralegals attendance, in all other states attorney/paralegal is provided with the approved CLE certificate to submit to their state bar or governing association.
- Automatic MCLE Approvals
All myLawCLE CLE programs are accredited automatically either directly or via reciprocity in the following states: AK, AR, CA, CT, FL, HI, ME, MO, MT, ND, NH, NM, NJ, NY, WV, and VT. (AZ does not approve CLE programs, but accepts our certificates for CLE credit.)
- Live Video Broadcasts
Live video broadcasts are new live CLE programs being streamed and recorded for the first time. All of these programs qualify for “Live” CLE credit in all states except NV, OH, MS, IN, UT, PA, GA, SC, and LA —these states require in-person attendance to qualify for “Live” CLE credit.
- “Live” Re-Broadcasts
“Live” Re-broadcasts are replays of previous recorded CLE programs, set on a specific date and time and where the original presenting speakers calls in live at the end of the event to answer questions. This “live” element allows for “live” Re-broadcast CLEs to qualify for “Live” CLE credits in most states. [The following states DO NOT allow for “live” CLE credits on re-broadcast CLEs: NV, OH, MS, IN, UT, PA, GA, SC, and LA]
Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.
Section I. Overview of entities available for holding real estate
a) Sole Proprietorships
f) Limited Partnerships
g) Limited Liability Partnerships
h) Joint Ventures
Section II. Review of factors to consider when selecting an entity
a) Legal considerations
b) Financial considerations
c) Liability considerations
d) Transferability of Assets
e) Continuity of Ownership
f) Tax issues
g) Operational consideration