My partner Pat Burk weighs in with a blog post on the new Iowa LLC law and real estate transfers. It’s a great blog post because LLCs have long been the entity of choice for real estate ownership. The post includes a discussion on statements of authority and title examination.
Pat distinguishes nicely my previous comments concerning due diligence in dealing with LLC members to make sure they have appropriate authority to act for the LLC and the need to have title examiners assume proper authority. Again, it will be interesting to see how courts treat these issues (and others) under the new Iowa LLC law.