Entity Declaration and Data Schedule
Investors often hold title in a land trust, limited liability company, family limited partnership or a corporation camouflaging who the real owner is behind the curtain. It’s not safe just to take them at their word as some are wiley and will trick you as to who the true owner really is. Properly identifying who the actual owner is (or who has authority to sign for the entity) is often a challenge for a property manager. Closing attorneys are good at this but generally you don’t have one to help you figure it out. Before you begin managing the property held in some entity, you need clarification. This document helps clarify ownership and who is authorized to execute documents and receive money on behalf of the entity.