Property Ownership
In New Mexico, what is the primary advantage of owning property in a limited liability company (LLC)?
AIt eliminates property taxes
BIt provides liability protection by separating the property's debts and liabilities from the owner's personal assets✓ Correct
CIt qualifies the property for commercial zoning automatically
DIt allows unlimited financing from the SBA
Explanation
An LLC creates a separate legal entity that holds the property. If a lawsuit or debt arises from the property, the owner's personal assets are generally protected from claims against the LLC.
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