Let’s Limit Investor and Property Owner Liability!

Limited liability companies (LLCs) are commonly formed to acquire and own real estate projects and parcels while limiting its members’ liability. LLC operating agreements usually outline the rights and obligations of the members, including allocation of net profits and losses and distribution of LLC assets. Use this operating agreement for a member-managed New York LLC with multiple members. See the Related Content below for LLC operating agreements for other states.

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Related Content

• Operating Agreement (Managing Member-Managed, Multiple Members) (Short Form) (CA LLC)
  Use this operating agreement for a California LLC managed by one of its members.

• Operating Agreement (Manager-Managed, Multiple Members) (Commercial Real Estate) (FL)
  Refer to this operating agreement for a Florida LLC managed by a Board of Managers.

• Operating Agreement (Member-Managed, Multiple Members) (Commercial Real Estate) (IL)
  Check out this operating agreement for an Illinois LLC managed by one of its members.

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