I have two properties in LLC's....are they excempt from Petition to Partition law suits?

Question

I have two properties in LLC's....are they excempt from Petition to Partition law suits?

Answer

In the traditional sense yes. However, a member may have the right to seek liquidation of the property or dissolution of the LLC. You need to look at your operating agreement for the rights of the Members.

Answer

I agree with the previous attorney.

I believe that you (and any other LLC member) would be precluded from bringing a petition for partition. However, as was previously stated, you may have the right as a member of the LLC to seek a buyout or dissolution of the LLC. You should take your Operating Agreement to an attorney for review.