OfflineCan someone help answer this for me??? I am purchasing a house under my LLC's name and this is what I guess Freddie Mac is asking for
"The title agent said if you don't have an operating agreement you can supply this:
If you do not have an operating agreement the buyer will need to state that in an email and provide a letter of authorization for the person who signed the contract package. This letter will need to be specific to this property address and signed by all members of the LLC."
I have never seen or ever had to do this before. I also thought that the members of an LLC do not have to be disclosed, but yet they are requiring all signatures.??
Any thoughts?
Thank you. :0)
Tonia
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I am in the state of Wisconsin if that is needed to be known.
Thank you,
Tonia
A LLC operating agreement is a declaration of the structure that the member has chosen for the company and sometimes used to prove in court that the LLC structure is separate from that of the individual owner and thus necessary so that the owner has documentation to prove that he or she is indeed separate from the entity itself You should have one as part of the LLC documentation.
If not, here is a site that has one you could look over: http://www.northwestregisteredagent.com/free-operating-agreement.html