RESPONSIBILITIES OF THE MEMBERS/PARTNERS

The responsibilities of the Member(s) in an Affiliated Business Arrangement are few, but extremely important.


1. Disclosure:

The Members are required, without exception, to disclose to each and every Buyer the member's investment interest in the title agency, through use of the HUD promulgated Disclosure Statement. Format available under documents.


2. Non-Required Use:

The second requirement, accomplished by use of the same document, is that Buyers can not be mandated to use this Agency as part of completing the real estate transaction. Buyers retain the right always, to choose whichever title agency the wish.


3. Investment:

The third requirement is that the LLC Members must make an investment in the capitalization of this Agency, which gains them, a percentage ownership. 


4. Return:

The members must receive their distribution based upon their percentage ownership only. No member can receive profit from an agency, in any fashion, except as a direct payment of the portion of net profit associated with his or her percentage ownership.