QUESTION
what issues arise when a C corporation rents home to husband?
Asked on Jul 17th, 2017 on Business Law - Florida
More details to this question:
joint ownership of house husband has independent business whereby he provides services and is paid proportionately - independent of his wife who has a job at a law firm.. husband's corporation in which he owns 80% and a fellow provider owns 20% corporation rents full use of home as is necessary to handle occasional business visitors - use of office hallways at front door greeting biz folks -- bathrooms - screened porch - kitchen for meals occasionally with salesmen etc. - does books - makes phone calls using landline phone - uses home computer and equipment in three rooms plus front door and yard appearance etc. etc.
1 ANSWER
Asset Protection Attorney serving Vero Beach, FL
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Charles H. Sanford Law Offices P.L.
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Dear A,
Possible Issues:
1. Loss of homestead, if the home is your primary residence.
2. Violation of HOA covenants, if in HOA
3. Violation of local ordinances regarding having businesses in residential areas.
Answered on Jul 18th, 2017 at 6:43 AM