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    Buying & Selling Partnership/LLC Interests: Opportunities and Pitfalls

    Buying & Selling Partnership/LLC Interests: Opportunities and Pitfalls
    CLE 90 min

    Buying & Selling Partnership/LLC Interests: Opportunities and Pitfalls

    Real estate is often owned by a partnership or LLC and transfers are often done by selling an interest in the partnership or LLC rather than the real estate itself. There are unique tax opportunities and pitfalls for sellers and buyers that real estate lawyers need to be aware of before the sale takes place.

    Select your state to learn more about the credit details and status of CLE application. Credit is not available for states not listed.

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2029

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2025

    1.50 total credit hours including

    • Substantive Law

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    2.00 total credit hours including

    • General

      Status:

      Approved

      2.00 credit hours

      Available until:

      12/31/2026

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      06/11/2025

    2.00 total credit hours including

    • General

      Status:

      Self apply

      2.00 credit hours

      Available until:

      12/11/2025

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      12/31/2024

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2029

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      12/31/2024

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2029

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      06/11/2027

    1.80 total credit hours including

    • General

      Status:

      Available for credit

      1.80 credit hours

      Available until:

      06/11/2029

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Applied for upon completion

      1.50 credit hours

      Available until:

      12/31/2027

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.80 total credit hours including

    • General

      Status:

      Reciprocity

      1.80 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2029

    1.50 total credit hours including

    • Areas of Professional Practice

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2025

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.80 total credit hours including

    • substantive legal education and skills development

      Status:

      Available for credit

      1.80 credit hours

      Available until:

      06/11/2028

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      12/31/2024

    2.00 total credit hours including

    • General

      Status:

      Approved

      2.00 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • Substantive

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2026

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Applied for upon completion

      1.50 credit hours

      Available until:

      12/31/2024

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      06/11/2025

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      05/31/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2027

    1.80 total credit hours including

    • General

      Status:

      Approved

      1.80 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      10/31/2024

    1.50 total credit hours including

    • Law & Legal Procedure

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2029

    1.80 total credit hours including

    • General

      Status:

      Applied for

      1.80 credit hours

      Available until:

      06/11/2027

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      06/11/2025

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      06/11/2027

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    $00
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    $00
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    Topics we will discuss include:

    • Tax elections for purchasers and the estate of a deceased partner to obtain a basis step-up in the partnership/LLC assets; impact if structure as a redemption

    • Obtaining capital gain on sale and impact of allocation of purchase price and "hot assets rule

    • Tax and withholding obligations if seller is a non-US person."

    • Protection from tax audit to prevent the partnership from having to pay the IRS for tax assessments

    • Overview of partnership/LLC provisions that can affect the purchaser including need for "tax distributions"

    • Real estate transfer tax exposure on controlling interest transfers. 

    The ABA will seek 1.5 hours of CLE credit in 60-minute states, and 1.8 hours of CLE credit for this program in 50-minute states. Credit hours are estimated and are subject to each state's approval and credit rounding rules. Please visit www.americanbar.org/mcle for general information on CLE at the ABA.

    Product Details

    Product Code

    RP2406RBSOLC

    Duration

    90

    Publication Date

    6/12/2024 12:00:00 AM

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