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Buying or Selling a Home/buying a property for a U 21 USA citizen

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Question
"Hi,
I am a UK resident and would like to invest in some property in the USA. ! am not looking to sell the property within a year or two (flip), but would like to have my nephews, who are US citizens, as the (trust fund) owners, when they turn 21. (10 - 12yrs from now)
What is the best way to set up the account.
Can I open an LLC in there name with me been a "guardian". and have the 3 of them equal shares also.

I will be hoping to rent the property in the mean time to help pay the Tax / Insurance / improvements, and all other bills that may arise.
The surplus rent would belong to the LLC."

Answer
Hi Bernie,

Thanks for your question.

There are a myriad of ways to own property.  You would be guided by your attorney during the closing process to set up the proper ownership form, trust, corporation, etc.  My investor buyers have purchased in both forms.

You would use a Realtor to help you find the property to buy.  The market is improving, prices increasing here now so don't wait too long.


Hans  

Buying or Selling a Home

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Hans Weber, Licensed Broker Associate

Expertise

I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?

Experience

Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.

Organizations
National Association of Realtors.
Westchester County Board of Realtors.

Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.

Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.

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