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Playing Monopoly With The Neighborhood: Impact Of Series Limited Liability Companies On Nuisance Abatement Actions And Housing Code Enforcement, Lauren Williams
Playing Monopoly With The Neighborhood: Impact Of Series Limited Liability Companies On Nuisance Abatement Actions And Housing Code Enforcement, Lauren Williams
Cleveland State Law Review
The City of Cleveland has been one of the most active cities in combating the negative effects of the 2008 financial crisis, utilizing nuisance abatement actions in combination with municipal programs aimed at assisting homeowners and renters. However, the Ohio Revised Limited Liability Company Act ("ORLLCA"), passed in 2021, may reverse the progress made in cities like Cleveland by enabling real estate investors to conceal assets in several series under the same limited liability company, resulting in rising vacancy rates and unstable communities. This will negatively impact the effectiveness of nuisance abatement actions and traditional housing code enforcement in curbing …