Commercial Real Estate Ownership
There are several ways in which you can take ownership of a commercial real estate property. Some people prefer to title the property in their own name. Others prefer to form a corporation or limited liability company and place the legal title in the name of that entity. While this requires more paperwork and some additional expense, the additional benefits are worth considering.
A primary benefit is your ability to limit your personal liability in the event that someone is hurt on your property. By limiting personal liability, you also decrease the risk of losing your other assets such as your home and personal bank accounts if the injured person wins their lawsuit against you.
To find out which avenue is best for you, consult a legal advisor before proceeding.