| DATE: |
09/18/01 |
|||
|---|---|---|---|---|
| SUBJECT/TOPIC: |
FOREIGN ENTITIES | |||
| Q: | Please advise as to whether or not one should handle a
conveyance of real estate from a foreign limited liability
company not qualified to do business in the State of
Tennessee. The property was deeded to the LLC in 1999 And to get a certificate of authority would require filing fee as well as penalty. |
|||
| A: | Thanks for your question. Owning real estate, without
more (e.g., leasing, managing, etc.) does not require
qualification. In any event, a conveyance would not be
void. See TCA 48-246-102 and 48-246-601. Thus, I don't
see a problem handling the sale. |
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