U.S. Real Estate Ownership Structures

05/08/2019
Question:

My husband and I are considering buying a winter home in Arizona and a friend told us that we should set up an LLC in the U.S. to own the property. Is this the best option for owning U.S. property?

Answer:

While LLCs (Limited Liability Companies) may be a good structure for Americans to own real estate, they are often NOT the best structure for Canadians to own U.S. real estate. Unfortunately, a number of Canadians have been incorrectly advised that LLCs are their best option by individuals who don’t understand the tax and estate planning issues on both sides of the border.

The best ownership structure for Canadians to own U.S. property really depends on your personal situation. Before you choose an ownership structure, we always suggest you consult with a legal advisor who specializes in cross border real estate transactions so they can help you decide on the right structure to meet your needs.

You can learn more about U.S. real estate ownership structures for Canadians here

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