b'No limited liability entity can protect you from violations of the law. And as a matter of public policy, an issuer (and its asset management team) cannot be indemnified by the issuer for securities violations. Legal Fees Are Reimbursable Legalfeesforformationofasyndicateorfundarereimbursable, assuming you account for them in your raise amount. All of your pre-closing expenses, including anything you can produce a receipt for that is related to the acquisition, are reimbursable. This includes pre-closing expenses the asset manager (or its members) paid out of pocket for inspections, travel to the site, legal fees, lender fees, appraisal fees, surveys, property deposits, etc. Consider your investment in competent corporate securities counsel to be an insurance policy that will protect YOU and will be reimbursed by your investors. Hiring the Wrong Attorney Can Cost You More Than Hiring the Right One Makesuretheattorneyyouvehiredisexperiencedinrealestate syndication or funds. Ask how many offerings the firm has done in the recentpastandwhetherithasthecorrectliabilityinsurancetocover securitiesofferings.Securitiesinsurancecoverageisoneofthehighest premiums an attorney can pay. Theres a reason for that.Also, an attorney who is interested in this area of practice may try to learnitonyourdime.Donttaketherisk.Wouldyouhiresomeone interested in learning brake mechanics to fix the brakes on your daughters 104'