Property Ownership
A Virginia LLC acquiring real property benefits from limited liability protection, meaning:
AThe LLC pays no property taxes
BMembers' personal assets are generally shielded from the LLC's liabilities✓ Correct
CThe LLC is exempt from all real estate regulations
DThe LLC cannot be sued
Explanation
A Virginia LLC provides members limited liability — their personal assets are generally protected from the LLC's debts and liabilities. This makes the LLC a popular structure for real estate investment.
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