Liability

• If the jointly owned property forecloses, an individual cannot be targeted to pay it off. Debt collectors cannot force a single business owner to use his personal finances to pay off the debt incurred on a property owned by an LLC. Thus, the personal risk associated with LLCs is low.
  
  

Taxation

• Real property owned by an LLC is only taxed on one level. The profits earned from the real property will be taxed as private income. They will not be taxed as a corporation in addition.
  
  

Duration

• Members of an LLC can decide if they want to have perpetual or nonperpetual existence. A nonperpetual existence limits how long the property can be owned. A perpetual existence does not have a time limitation and ownership can continue indefinitely.