In an LLC (real estate) with two equal members, who is considered the owner of the LLC&#39;s properties. The LLC, or the partners?
<p>I am one of two members of an LLC that owns property in Kentucky. Could one or both of the members be considered the owner of a particular property, or would the LLC represent the legal owner?</p>

<p>A little more background, a family member of my partner is renting one of the LLC's properties. This family member previously had HUD/Section 8 support, but that was terminated due to the familial relationship between tenant and owner.</p>

<p>Thanks.</p>

<p>Edit 1:
I found this piece that seemed to support my position, but it might only apply to NY. <a href="https://www.lexology.com/library/detail.aspx?g=0bb3124e-0533-4894-a705-bf31c0f91b49" rel="nofollow noreferrer">https://www.lexology.com/library/detail.aspx?g=0bb3124e-0533-4894-a705-bf31c0f91b49</a></p>

<h2>An LLC is a separate legal entity from its owners</h2>

<p>However, many laws (HUD may be one) look through the corporate veil and define "related" entities. So, even though your co-owner may not be the legal owner, the fact that they have a stake in the owner may render HUD ineligible.</p>

business real-estate kentucky