Most savvy properties owners will create an LLC to hold real estate property. This method common practice, especially in New York City, and helps to insulate the property owner’s premises liability when each property is held by a separate LLC.
In New York LLCs are subject to the LLC publication requirement, which states that when an LLC is formed it’s required publish 2 legal notices for six consecutive weeks in 2 newspapers that are designated by the County Clerk in the county of the LLC’s legal address. After six weeks of running the LLC notices, the publishers will issue affidavits stating that LLC publication process has been completed, and these affidavits must be filed with the New York Department of State in order to be issued a Certificate of Publication. The statutory deadline for completion of this process is 120 days from the date that the LLC was formed.
Contact us for a free phone consultation if you have questions about the LLC publication process or need assistance publishing multiple LLCs for real estate holdings.