|
|
|
|
|
by singleshot_
23 days ago
|
|
What would happen if the deed (a contract) was an agreement to violate the law restricting minimum lot sizes and was therefor illegal? It would be void and regardless of recordation, no transfer or subdivision would have occurred. |
|
But a new avenue has occurred to me that actually saves money on deed costs - nothing prevents multiple corporate entities from jointly owning a piece of real estate on one deed, right? So you could conceivably create one Delaware Series LLC, create an unlimited number of distinct legal entities with that, and then write one deed that lists all of those entities as joint owners of the single piece of real estate. Basically similar to multiple residents living in one house, and each getting a vote (but applied to infinitely scalable corporate entities!)
The fundamental flaw here is the law framing the entity itself as having voting rights (also why this attracts so much attention!), whereas if it were framed such that every beneficial owner with over say 35% of the ownership interest could vote, that would be intrinsically limiting.