Nominee Agreement For Llc

• Category: Real Estate - Business Trusts
• State: Multi-State
• Control #: US-0222BG
• Format: Word; Rich Text

Description

The Nominee Agreement for LLC is a legal document that outlines the relationship between a nominee and an owner regarding the holding of real property. This agreement states that the nominee will hold the property on behalf of the owner without having any beneficial interest in it. Key features include the nominee's obligation to act solely under the owner's instructions and the acknowledgment that all profits and revenues derived from the property belong to the owner. The form provides clear instructions for filling out the details of both parties and the property involved, emphasizing the necessity of mutual consent in any modifications. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this document to define the responsibilities and liabilities between parties, ensuring protection and clarity in real property transactions. It is particularly relevant for those who want to maintain privacy in ownership while still exercising control over the property. The agreement also establishes protocols for communication and accountability regarding property-related issues.