This message is sent to you by LawNewswatch

Top Ten Drafting Issues in Limited Partnerships and Limited Liability Companies for Land Owners and Developers

Date:Wednesday, October 17, 2018
Time: 1:00 - 2:30 pm EST
Length: 90 minutes

Sponsored by Lorman Education Services


Registration for Session Only: $199.00

Registration plus Session Recording and Written Materials: $268.00
 

Description:

Learn tips that will be appropriate for any kind of Limited Liability Company or limited partnership business that you or your clients may find themselves in.

Most business people start new multi-owner real estate businesses from LLCs to conduct them. The operating agreements of these LLCs are often complex and demand substantial skill on the part of lawyers drafting them.

Unfortunately, many of these operating agreements fail to adequately address fiduciary issues, dispute resolution issues and other critically important business organization law issues, and most of them fail to address major new federal partnership issues under section 199A and the BBA partnership audit rules. This topic will teach you how to address these issues.

Learning Objectives

  • You will be able to describe the general structure of a well-drafted operating agreement for a multi-member real estate LLC.
  • You will be able to discuss the dispute resolution method that will be best for your clients.
  • You will be able to review effectively for your clients the model operating agreements of multi-member real estate LLCs drafted by other lawyers.
  • You will be able to define ‘minimum gain charge-back’.

Areas Covered in the Session:

Overview

  • Should Your Clients Use a Limited Partnership or an LLC to Conduct a Real Estate Business?
  • The Meaning of the Term "Real Estate Business" in This Topic
  • What Should Be the Federal Tax Regimen of LLCs Your Clients Use to Conduct Their Real Estate Business?

Key Business Organization Law Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs

Key Partnership Tax Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs

  • Allocations and Distributions in the Operating Agreements of Straight-up Partnerships
  • Regulatory and Contractual Special Allocations

Key Real Estate Law Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs

Credit Information (Sponsored by Lorman Education Services):

  • CFP
  • CLE
  • CPE
  • NALA
  • NASBA
For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

John M. Cunningham, Law Offices of John M. Cunningham, PLLC, Of Counsel, McLane Middleton, P.A.

  • Principal of the Law Offices of John M. Cunningham, PLLC, and he is of counsel to the New Hampshire-based law firm of McLane Middleton, P.A.
  • Former trial attorney with the Tax Division of the United States Department of Justice and a former member of the Foreign Trade and Tax Department of the international law firm of Baker McKenzie
  • Practice is focused on handling LLC matters, including LLC formations, and on assisting clients to maximize their pass-through deductions under new Internal Revenue Code section 199A
  • Frequently teaches seminar in his fields of practice for the American Law Institute, bars associations, law firms, accounting firms and business groups
  • Principal author of Drafting Limited Liability Company Operating Agreements, the leading U.S. LLC formbook and practice manual, published by Wolters Kluwer Law & Business; and he is the author of Maximizing Pass-through Deductions under Section 199A—Section 199A Practice Manual, also published by Wolters Kluwer Law & Business
  • J.D. degree, University of Pennsylvania Law School
  • Member of the American Bar Association and the New Hampshire and Massachusetts Bars
  • Can be contacted at lawjmc@comcast.net or (603) 856-7172

(Not available outside the US)