Who May Invest
To Invest with Langley Properties you will need to meet the requirements to be an accredited investor. Generally, this requirement is met by meeting any one of the following criteria:
- $1,000,000 Net Worth. The investor is a natural person and his net worth, either individually or jointly with his or her spouse, exceeds $1,000,000, inclusive of home, home furnishings and automobiles;
- $200,000 Income. The investor is a natural person who has had individual income from all sources (without including any income of his or her spouse unless such spouse is a co purchaser) in excess of $200,000 in each of the two most recent years or joint income with that Person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same level of income in the current year;
- Partnership, Corporate or other Entity Investors. In general, a partnership, corporation, revocable or grantor trust or unincorporated association is deemed to be an Accredited Investor if all of the equity owners of that entity (or in the case of a revocable or grantor trust, all persons with the power to revoke the trust) qualify as Accredited Investors under subparagraph (a) or (b) above; and
- Trust or Employee Benefit Plan Investors. In general, an employee benefit plan or trust will qualify as an Accredited Investor if (i) the entity is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, and the investment decision is made by a Plan fiduciary, as defined in Section 3(21) of such Act which is a bank, savings and loan association, insurance company or registered investment advisor, or (ii) the entity is a qualified profit sharing or defined contribution Plan, the Plan provides for segregated accounts for each Plan participant, the governing documents of the Plan provide that each participant may direct the trustee to invest his or her funds in the investment vehicles of his or her choice and the purchase of Units is made pursuant to an exercise by the Plan participant, who is an Accredited Investor under Subparagraph (a) or (b) above, of such power to direct the investments of his or her segregated account; or (iii) it is a revocable trust and each Person with the power to revoke the trust qualifies as an Accredited Investor under subparagraph (a) or (b) above.
 "Individual income” means adjusted gross income, as reported for federal income tax purposes, less any income attributable to a spouse or to property owned by a spouse, increased by the following amounts (but not including any amounts attributable to a spouse or to property owned by a spouse unless such spouse is a co-purchaser): (i) contributions to a profit sharing or defined benefit plan made on behalf of the individual, to the extent of his vested interest under the plans, (ii) the amount of any interest income received which is tax-exempt under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code”), (iii) the amount of losses claimed as a limited partner in a limited partnership (as reported on Schedule E of Form 1040) and (iv) any deduction claimed for depletion under Section 611 et seq. of the Code.