Assumed Name Statute

An assumed name statute in real estate refers to a legal provision that allows individuals or businesses to conduct real estate transactions using a name other than their legal entity or personal name. Also known as a “doing business as” (DBA) statute, it permits entities to operate under a fictitious or trade name while still ensuring transparency and legal compliance.

Under such statutes, individuals or entities must typically register their assumed name with the appropriate governmental authority, such as the state’s Secretary of State office or a county clerk’s office. This registration process often involves submitting an application, paying a fee, and providing information about the entity’s legal name and business activities.

Assumed name statutes serve various purposes in real estate, including facilitating branding and marketing efforts, enhancing market recognition, and enabling flexibility in business operations. By allowing entities to use a name other than their legal entity name, these statutes enable businesses to conduct transactions under a recognizable and marketable identity while maintaining legal accountability and transparency.