Each structure provides its own benefits. How one is ultimately better than another is dependent on your individual needs and requirements. An attorney can best determine which structure is right for your business.
Yes, however, some of the protections may be limited in comparison to a multi-member LLC. Additionally, single member LLC’s (LLC owned by just one owner) are disregarded entities for tax purposes and filed as a sole proprietorship.
Transferability of ownership means the ability to exchange ownership interest in a business. Generally, corporations provide for greater transferability of ownership instead of LLC’s. Therefore, if transferability of ownership is important then a corporation may be a better option
Generally, a quit claim deed only provides ownership from the grantor of the prior deed. A quit claim deed provides the property and title “as is.” Therefore, if the property has any encumbrances these are the responsibilities of the buyer.
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