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How to Mess Up a Real Estate LLC Operating Agreement

Join Loeb & Loeb LLP's Terence F. Cuff, of counsel in our Tax Group, for this presentation on the ins and outs of LLC agreements, intended for in-house counsel and business professionals working heavily with real estate partnerships. Topics covered will include common pitfalls to be aware of and the potential fallout from them, techniques and tips for drafting the agreement, and how to handle provisions to the agreement.

We are pleased to host this multi-office event, which will be presented live in our Los Angeles office and streamed to our Chicago and New York offices. Lunch will be served in Los Angeles and cocktail receptions will follow the program in Chicago and New York. Additional details and agendas for each office are below.

 Other topics include:  
  • State of organization
  • Fiduciary issues
  • Special considerations of employee/member
  • Purpose and scope of business
  • Transfer of property to entity (transfer costs, timing, interim operations, warranties, breach of warranties, remedies)
  • Additional capital contributions
  • Borrowing and emergency loans
  • Default remedies
  • Economic distribution provisions (tax distributions, preferred returns, internal rate of return hurdles)
  • Tax allocations
  • Standard of care
  • Managers (selection, qualifications, removal, compensation, powers, limitations)
  • Members
  • Meetings
  • Business opportunities
  • Dealings with affiliates
  • Transfer of interest and restrictions (problems of upper tier transfers)
  • Buy-out provisions
  • Tax return preparation and approval
  • Financial reports
  • Access to books, records and other information
  • Indemnification of managers, members and agents
  • Liquidation
  • Tax audit provisions
  • Accountants
  • Legal representation and conflicts
  • Dispute resolution
  • Amendment
  • Notices
  • Securities issues 

Los Angeles

Loeb & Loeb LLP
10100 Santa Monica Boulevard
Los Angeles, CA 90067


1:00-1:30 PM – Registration and lunch
1:30-3:00 PM – Program 

Parking will be validated.


Loeb & Loeb LLP
321 North Clark Street
Chicago, IL 60654 


3:00-3:30 PM – Registration
3:30-5:00 PM – Program
5:00-6:00 PM – Reception


Parking will be validated.

New York

Loeb & Loeb LLP
345 Park Avenue
New York, NY 10154


4:00-4:30 PM – Registration
4:30-6:00 PM – Program
6:00-7:00 PM – Reception


This activity has been approved by the State Bars of California and Illinois for up to one and one-half (1.5) hours of General minimum continuing legal education credit and the State Bar of New York for up to one and one-half (1.5) hours of Professional Practice minimum continuing legal education credit. Loeb & Loeb LLP certifies that this activity conforms to the standards for approved education activities prescribed by the rules and regulations of the State Bars of California, Illinois and New York governing minimum continuing legal education and is appropriate for newly admitted and experienced attorneys. There is no charge to participate, but registration is required.