When I was doing some research, specifically looking into a Park in a Patterson Subdivision, I found something I thought was interesting. The name Craig C Mortensen keeps coming up in most of my searches. Craig is the Registered Agent for over 125 different Utah Business Entities including Patterson Homes, LLC, Patterson Faimly Enterprises, LLC, Patterson Ventures, LLC, Patterson Development, LLC, Patterson Real Estate Group, LLC, and the famous Patterson Empire, Inc. I have a complete list available for download here. To do an executive search you need to pay on the website, so I am going to share all of the documents I have found or paid for when writing this article.
I found some interesting patterns with homes that are sold by Patterson Homes. I am going to list a few examples at this time. I am not drawing any conclusions on what is going on here, I will leave to you as the reader. But I would love to hear your comments, please leave your opinions and comments below.
Serial Number: 38:451:0009Property Address: 1826 E COSMOS DR Unit# B-1 – EAGLE MOUNTAIN
Mailing Address: 11038 HIGHLAND BLVD # 100 HIGHLAND, UT 84003-3786
Acreage: 0.018721
Last Document: 43030-2016
Legal Description: LOT B-1, PLAT A, EAGLE POINT TOWNHOMES SUB AREA 0.019 AC.
2017+ PHI PROPERTIES INC
2016 SS DUNN PROPERTIES LLC
2015 PINE GROVE PROPERTIES LIMITED PARTNERSHIP
2014 SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
Now for the interesting part. All of those entities have a registered agent in common.
PHI PROPERTIES INC
Entity Number: 1033212-0142
Company Type: Corporation – Domestic – Profit
Address: 11038 HIGHLAND BLVD #100 HIGHLAND, UT 840033020
State of Origin: UT
Registered Agent: CRAIG MORTENSEN
Registered Agent Address: 11256 CALAIS CIR, HIGHLAND, UT 84003
Status: Active
SS DUNN PROPERTIES LLC
Entity Number: 6346264-0160
Company Type: LLC – Domestic
Address: 11038 HIGHLAND BLVD #100 HIGHLAND, UT 84003
State of Origin:
Registered Agent: CRAIG C MORTENSEN
Registered Agent Address: 11038 HIGHLAND BLVD #100, HIGHLAND, UT 84003
Status: Active
PINE GROVE PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369082-0180
Company Type: Limited Partnership – Domestic
Address: 11038 HIGHLAND BLVD #100 HIGHLAND, UT 84003
State of Origin:
Registered Agent: CRAIG C MORTENSEN
Registered Agent Address: 11256 CALAIS CIRCLE, HIGHLAND, UT 84003
Status: Active
SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369124-0180
Company Type: Limited Partnership – Domestic
Address: 11038 HIGHLAND BLVD #100 Highland, UT 84003
State of Origin:
Registered Agent: CRAIG C MORTENSEN
Registered Agent Address: 11256 CALAIS CIRCLE, HIGHLAND, UT 84003
Status: Active
Serial Number: 43:226:0002Property Address: 3472 E JACOB’S WAY – EAGLE MOUNTAIN
Mailing Address: 11038 N HIGHLAND BLVD STE 100 HIGHLAND, UT 84003
Acreage: 0.459429
Last Document: 15785-2019
Legal Description: LOT 2, PLAT D, JACOB’S WELL SUB AREA 0.459 AC.
2020+ BOOKEND INVESTMENTS LLC
2019 PATTERSON HOMES LLC
2014-2018 PATTERSON CONSTRUCTION INC
Again, notice who the registered agent is for each of these business entities.
BOOKEND INVESTMENTS, LLC
Entity Number: 9813139-0160
Registered Agent: CRAIG MORTENSEN
Status: Active
PATTERSON HOMES, LLC
Entity Number: 9189465-0160
Registered Agent: CRAIG MORTENSEN
Status: Active
PATTERSON CONSTRUCTION, INC.
Entity Number: 4852208-0142
Registered Agent: CRAIG C MORTENSEN
Status: Active
Serial Number: 38:300:0022Property Address: 2256 E 3530 NORTH – EAGLE MOUNTAIN
Mailing Address: 11038 HIGHLAND BLVD # 100 HIGHLAND, UT 84003-3786
Acreage: 0.193
Last Document: 30266-2011
Legal Description: LOT 393, PLAT D, EAGLE POINT SUBDV. AREA 0.193 AC.
This property has also changed ownership over the two decades. The following are the owning entities.
2012+ MEADOWBROOK PROPERTIES LIMITED PARTNERSHIP
2011 MEADOWBROOK PROPERTY LIMITED PARTNERSHIP
2010 SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
2002-2009 EAGLE POINT PROPERTIES LIMITED PARTNERSHIP
2001 PATTERSON CONSTRUCTION INC
MEADOWBROOK PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369182-0180
Registered Agent: CRAIG C MORTENSEN
Status: Active
MEADOWBROOK PROPERTY MANAGEMENT, LLC
Entity Number: 5369170-0160
Registered Agent: CRAIG C MORTENSEN
Status: Active
SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369124-0180
Registered Agent: CRAIG C MORTENSEN
Status: Active
EAGLE POINT PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369153-0180
Registered Agent: CRAIG C MORTENSEN
Status: Expired
PATTERSON CONSTRUCTION, INC.
Entity Number: 4852208-0142
Registered Agent: CRAIG C MORTENSEN
Status: Active
Serial Number: 38:412:0034Property Address: 4076 N SHIRLEY LN – EAGLE MOUNTAIN
Mailing Address: 11038 HIGHLAND BLVD # 100 HIGHLAND, UT 84003-3786
Acreage: 0.157
Last Document: 65268-2010
Legal Description: LOT 34, PLAT I, EAGLE POINT SUBDV. AREA 0.157 AC.
The owners of this property are listed below.
2011+ PINE GROVE PROPERTIES LIMITED PARTNERSHIP
2010 SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
2010NV EAGLE POINT PROPERTIES
2010NV EAGLE POINT PROPERTIES
2008-2009 BUCKEYE PROPERTIES LLC
PINE GROVE PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369082-0180
Registered Agent: CRAIG C MORTENSEN
Status: Active
SUNSET MOUNTAIN PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369124-0180
Registered Agent: CRAIG C MORTENSEN
Status: Active
EAGLE POINT PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369153-0180
Registered Agent: CRAIG C MORTENSEN
Status: Expired
BUCKEYE PROPERTIES, LLC
Entity Number: 6018558-0160
Address: 11038 HIGHLAND BLVD #100 HIGHLAND, UT 84003
Status: Expired
Note: Buckeye Properties, LLC does not have an agent that is on the website, but the address is the same address as all of the other Entities listed by Mr Mortensen.
Serial Number: 38:297:0252Property Address: 2144 E EASTER DR – EAGLE MOUNTAIN
Mailing Address: 6498 W AVERY AV HIGHLAND, UT 84003
Acreage: 0.175
Last Document: 24415-2001
Subdivision Map Filing
Legal Description: LOT 252, PLAT C, EAGLE POINT SUBDV. AREA 0.175 AC.
The owner list of this property includes:
2013… PATTERSON, BARBARA J
2010-2012 BOX ELDER PROPERTIES LIMITED PARTNERSHIP
2010NV BOX ELDER PROPERTIES LIMITED PARTNERSHIP
2006-2009 MEADOWBROOK AT EAGLE VALLEY LLC
2005 PATTERSON HOMES INC
2003-2004 RETIREMENT VALLEY INC
2002 PATTERSON CONSTRUCTION INC
2002NV AUTUMN VALLEY LAND LC
2001 PATTERSON CONSTRUCTION INC
BOX ELDER PROPERTIES LIMITED PARTNERSHIP
Entity Number: 5369217-0180
Registered Agent: CRAIG C MORTENSEN
Status: Active
MEADOWBROOK AT EAGLE VALLEY LLC
Could not find a record under this name, but Craig C Mortensen is listed on several different Meadowbrook At properties.
PATTERSON HOMES INC
Could not find a record under this exact name, but Craig C Mortensen is listed on the other Patterson Home entities.
RETIREMENT VALLEY INC
I have seen this one several times, but there is no record of it on public record in Utah.
PATTERSON CONSTRUCTION INC
Entity Number: 4852208-0142
Registered Agent: CRAIG C MORTENSEN
Status: Active
AUTUMN VALLEY LAND LC
Entity Number: 4890410-0160
Registered Agent: WAYNE PATTERSON
Status: Active
PATTERSON CONSTRUCTION INC
Entity Number: 4852208-0142
Registered Agent: CRAIG C MORTENSEN
Status: Active
I have reached out to Mr. Mortensen for comment on why these properties have switched ownership between LLCs that he is the registered agent for.
There are a few reasons why real estate is owned by an LLC instead of an individual. I asked another Eagle Mountain realtor what he thought about why the properties were changing hands through so many LLCs controlled by the same person. “Maybe he is using limited partnerships for each of his developments. Another advantage (as I’m sure you’re aware) is the tax advantages of the use of a corporation, LLC, or limited partnership. He may be doing this to cover his assets for legal reasons.” There are a lot of other reasons that I have come up with that could possibly be why this is happening.
One reason as mentioned above is for tax purposes. Maybe moving the properties between LLCs in some way gives tax advantages. But if the LLCs are setup up as pass-thru LLCs then there would be no tax benefit. “An LLC pass through refers to the pass-through characteristic of this type of business entity when it comes to taxation. The profits and losses of a Limited Liability Company (LLC) pass through the company and on to the members (owners) of the business.”
Another reason could be to maybe influence the future selling prices of properties around the traded property. As stated by Whiting, in the article “Eagle Mountain Housing Prices“, property sale and purchase prices are influenced by comps or the price that similar properties in the area were sold for. To be fair, the majority of the sales listed between LLCs are not put on MLS, the system that realtors use to generate comps. So the examples that I have listed have little influence on the actual purchase price of similar properties in the area. But the potential for that influence is there. It also should be noted that if a realtor does sell a property to a friend or family member it is tagged differently in MLS so that other realtors know that it was a sale that should not influence other home prices.
A lot of realtors that keep investment properties for rentals will have those properties protected under an LLC, so it is not unusual to see a developer or realtor associated with multiple LLCs. Colin Curtis, Eagle Mountain resident, real estate agent, real estate investor & property manager has this to say about LLCs and having the LLC as the owner of the property.
As a real estate agent and investor for over 16 yrs now I have learned a lot from research, mentors, from courses & classes and from my own experiences including that when buying and holding properties as rentals it is wise to keep them separate from you personally by vesting them in an LLC (or a trust) at or after closing. Some of the benefits of not holding them in your personal name but rather in an LLC include keeping your personal finances and your business finances separate which helps for accounting purposes and also in getting mortgage loans to buy more investment properties. Also, you limit your liability to your company or companies when you hold your properties in LLCs. It is easier to keep your assets confidential by having them vested in LLCs than in your personal name. Real estate vesting is a public record. Anyone can look that up online for a particular address or a particular owner. There is only one you so if you vest your properties in your name anyone can search your name and all the properties you own will pull up. But you can set up LLCs and dba’s (doing business as) on your LLCs under any name you want that is not already taken and is approved by the state (for a small fee and in a few minutes on corporations.utah.gov).
For every property, we buy we set up a dba under one of our LLCs (two-member LLC with my wife & I as owners) and name it after the property address. By doing this the properties won’t pull up in searches under my name, they won’t pull up under the main LLCs name, and when a specific address is searched the owner shows as “the property address LLC”. This creates greater confidentiality so the public doesn’t know everything I own. This could come in helpful in many ways. Also by definition, an LLC or limited liability company is intended to limit the liability of the company assets and operations and keep that separate from personal. So in the event of a lawsuit having properties not tied to you personally or to each other can significantly reduce and compartmentalize one’s liability. Vesting properties this way is perfectly legal and a good title company can help you do it for minimal cost.
Choosing to hold properties in LLCs to limit your liability is not shady or unethical, it doesn’t mean you are running your business in a questionable way or doing anything illegal and trying to hide it, no it has nothing to do with any of that rather in the current litigious world we live in its really just about protecting your hard-earned assets. Happy investing!
Supporting Documents
Mike Kieffer – Editor-in-Chief, Cedar Valley Sentinel
Mike Kieffer is a dynamic leader and community advocate based in Eagle Mountain, Utah. He serves as the Editor-in-Chief of the Cedar Valley Sentinel, a local publication dedicated to informing, inspiring, and elevating the Cedar Valley community through honest and accurate journalism. With a passion for fostering connections, Kieffer has made it his mission to highlight local businesses, provide reliable news, and support community development.
Beyond his editorial role, Kieffer is the owner of Lake Mountain Media, LLC, a company specializing in media and communications, and the co-owner of Quail Run Farms, which focuses on sustainable farming and community engagement. He also actively contributes to the local economy and culture as a member of the Eagle Mountain Chamber of Commerce.
Kieffer’s dedication extends to preserving and promoting the history and heritage of the Cedar Valley area. He often participates in community-centered events and media, including podcasts that explore the unique aspects of life in the region. Through his varied endeavors, he remains a steadfast advocate for the growth and enrichment of the local community.