FAQs

• JV LLC is registered with the State of Texas and IRS • JV LLC Bank Account is opened for business • JV LLC Operating Agreement is signed by shareholders • JV LLC Shareholders have access to all documents • JV LLC Shareholders vote on all major decisions • JV Managers are paid fees as approved by members • Each JV LLC Shareholder is also loan guarantor • Managers are responsible for managing the JV LLC as per the Operating Agreement • Taxes are filed every year • Shareholders receive K-1s to assist in their tax filings • JV LLC is dissolved after property is sold

• LLC Structure protects personal property and assets from inside liability (lawsuit on the LLC) • LLC Structure protects LLC property’s assets from outside liability (lawsuit on a member)