Question: What does "Corporate Owned" mean in property ownership?
Answer:
"Corporate Owned" means a property is owned by a business entity (like an LLC or Corporation) rather than an individual. People can own properties either personally, under their own names, or through a separate business entity they've formed.
Key points about Corporate Ownership:
Usually involves a Limited Liability Company (LLC), Corporation, or another business structure.
Often used to provide legal protection or for tax and financial reasons.
Commonly labeled as "Corporate Owned" in property records or listings.
Example:
If a property is listed as "Corporate Owned," it means a business such as Main Street Holdings LLC owns the property, not a private individual.