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Commercial real estate and limited liability companies

Making the decision to invest in real estate is a major undertaking. If this includes commercial properties, you may be able to tap into a lucrative industry, but you do need to take steps to protect yourself in case anything happens with the properties.

Some individuals opt to establish a limited liability company for the commercial real estate holdings. This can provide a barrier between those properties and your personal assets. While some people might not think this is necessary, you should understand how this might help you if you ever face a lawsuit because of the properties.

If there is ever a lawsuit placed in relation to the commercial properties, having them housed under an LLC can mean that your personal assets can't be touched if the lawsuit is successful. For example, if someone slips on stairs and opts to pursue a personal injury claim, they'd sue the LLC instead of you as the building's owner if they have reason to believe that the owner holds a portion of the liability for their injuries. If the claim is successful, the LLC would have to cover the damage award, but you wouldn't have to liquidate your own assets.

There are some specific considerations when you're going to house commercial real estate under an LLC. One of these is the funding, so make sure that you work with someone who is familiar with how to structure these arrangements. Typically, an LLC provides you with flexibility based on the articles of organization. Think about those carefully when you're trying to determine whether you can make your plans a reality.

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  1. Charles W. Dobbins, Jr.

    Charles earned his J.D. degree from the University of Virginia in 1974

    He was graduated from Washington & Lee University in 1970 with a B.A. with Distinction

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    Mark W. Dobbins

    Mark earned his B.A. from Emory University.

    He earned his J.D. from the University of Louisville.

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    Patrick T. Schmidt

    Patrick earned his B.S. in Accounting from the University of Kentucky in 1989.

    He earned his J.D. from the University of Kentucky in 1992.

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    Terrence L. McCoy

    Terry earned a B.A. from Dartmouth College in 1964.

    He earned his J.D. from Duke University in 1967.

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    Lisa Koch Bryant

    Ms. Bryant has extensive commercial litigation and bankruptcy experience. Prior to entering private practice, Ms. Bryant served as head of litigation for the Federal Land Bank of Louisville.

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  2. Wm. Stephen Reisz

    Thomas graduated from the University of Louisville Business School with a B.A. in 1973

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    Sandra F. Keene

    Sandra earned her Bachelor of Health Science degree, with Honors, from the University of Louisville in 1982.

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    Elizabeth M. Jenkins

    Colgate University, B.A., Political Science, magna cum laude, 1983

    University of Virginia, J.D., 1992

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    Edward L. Galloway

    Ed graduated from Indiana University in 1967 with a degree in history.

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    Thomas G. Karageorge

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    Tacasha attended Harvard University in Cambridge, Massachusetts during the summer of 2001, where she studied courses in law and psychology.

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    Ayala Golding

    Ayala received her J.D. in 1994 from the University of Louisville, Louis D. Brandeis School of Law, Louisville, Kentucky, where she was a member of the Brandeis Family Law Journal, and

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    Kacie A. Wilkinson

    Kacie A. Wilkinson recently joined Tilford, Dobbins & Schmidt, PLLC, where she practices in the areas of business law & transactions, real estate, estate planning and probate.

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    Gwen recently joined the Firm after being employed by notable Louisville companies for over 15 years in a variety of capacities including Corporate Counsel, Director of Human Resources, and Risk Manager.

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    Bill earned his B.A. from Centre College in Kentucky in 1956.

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    Terrell L. Black

    Terry earned a B.S. in Social Science from Campbellsville College in 1966.

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    John A. Wilmes

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