--- In AsburyPark@yahoogroups.com, "bluebishop82" <[EMAIL PROTECTED]>
wrote:
>
>
> You speaka' New York, I speaka' New Jersey. ;-)
>
>
I speaka da brookalin!
Yes, my second hypo, if they lent money holding the LLC interest as
collateral does not make them an equity investor in the property in
the traditional sense, but in essence, that is what they become.
That is because the real equity owner (LLC) has to wait until the
bank takes it share and then the creditors of the LLC (investors)
get their share from the LLC. A distinction without an difference.
The state, because perhaps security laws were violated, may appoint
a receiver for the LLCs, but not the properties. The receiver of the
LLCs will have to deal with the lenders in the normal course of
events.
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