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Need legal/title advice for putting coach in name of LLC

FactoryShowtime
Explorer
Explorer
Hello!

My wifes father wants to put his class A pusher into sort of a partnership or trust, Im not familiar with how this would work but I know what he wants.

He wants it taken out of his name and free from liability and responsibility (it is paid off), he would like it registered under my business name (LLC), he wants certain members of the family to have access to use the coach but they must pay their part in maintenance/storage/insurance ect. to maintain their privileges.

To me this sounds similar to doing a partnership on an aircraft. But I dont know how the titling would work, and I assume it must be left to my wife and I to ensure that his wishes that it be available to contributing family members are maintained (trust?). He is wanting actual ownership to remain neutral, I assume to avoid any jealousy.

This is in Texas if that helps.

If someone has some advice for me on what type of paperwork needs to be done I would appreciate it!
17 REPLIES 17

Executive45
Explorer III
Explorer III
Mowermech has the best advice. If you can't talk to your LLC attorney, find a competent LLC attorney for advice. Any advice we give you is only worth what you pay for it...Dennis
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mowermech
Explorer
Explorer
If you already have an LLC, talk to the attorney who set up the LLC paperwork for you.
You will get lots of opinions here, but very little if any legal advice that can be trusted.
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Tyler0215
Explorer
Explorer
This is probably not the best forum for legal advice.