Registered Agent Kids?
Going to form a LLC and I guess I need a registered agent and from what I understand it cannot be me or my wife who will be the members/partners of the LLC. Instead of paying for this service through these online companies that will set up your LLC can I have my 8 yr old daughter be listed as the registered agent? If not who would be best?
You can be the Registered Agent (RA) for your own LLC, or an LLC that you own a percentage of. The drawbacks to being the RA are mostly privacy, you have none as you are on record with the state as the RA for legal service to the LLC.
The reason for hiring a responsible firm is simple, if you cannot be reached for service a default judgement can be entered against you in court. Most people would prefer to have a professional firm handle this, with instructions to forward any documents served directly to both you and your LLCs lawyer.
Being the RA yourself can be a good thing if you are not trying to achive privacy as you will likely respond to official state notices and legal services where a fly-by-night firm may not if you hire them. Best bet is to select a firm that has been doing this awhile, and has multiple employees to make sure coverage is available even when soemone take a vacation, is sick, etc.
I would not choose to be the RA of an LLC, but my goals may be different than yours so you may not have the same considerations I do.
you might check out http://www.methvenlaw.com/17_Real_Estate_page.html for a fairly compehensive breakdown of entitues.
JohnMerchant:
i only spoke about the title company because the do require a corp resolution and/or a certificate of gooding standing and Articles of Incorporation in the state which you company is registered. They want to make sure that you can sell it on your compnay behalf. The title comonaies I work with actually know a lot of info regarding corporate structures and title transfers.
[ Edited by goldenchild on Date 06/30/2005 ]
Get your mortgage approved contingent on the appraisal. When you get you bid accepted thenm have it appraised.