Property Ownership
A Washington property is owned by a limited liability company (LLC). If the LLC sells the property, who must sign the deed on behalf of the LLC?
AAny member of the LLC, regardless of management structure
BThe manager or member authorized to execute documents under the LLC's operating agreement✓ Correct
CA licensed real estate attorney on behalf of the LLC
DAll members of the LLC must sign
Explanation
For an LLC to convey property, a person with authority under the LLC's operating agreement must sign the deed. This is typically the manager (for manager-managed LLCs) or an authorized member.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
EasementA non-possessory right to use another person's land for a specific purpose.
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