"Kushner's 266 “positions” do not necessarily indicate typical “jobs” as people may think of them, said Larry Noble, a former general counsel at the Federal Election Commission and the senior director for ethics at the nonpartisan Campaign Legal Center. “All the LLC is there for is to own the building,” he said in an interview. Most likely, “he's not taking calls from tenants.” The practice is extremely common in real estate, experts say. Investors and real estate companies favor limited liability companies as a way to protect their assets, said Paul Habibi, a real estate investor who teaches at UCLA's law and business schools. “The idea is you don't want to have liabilities that permeate across multiple assets,” he said. “One commonly accepted way to do that is to put each [project] into a different limited liability company.”
[WP: 8/1/17]
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