Posted on: 06th Feb, 2009 05:51 am
i have several rental properties i want to protect. whats the best way to shield a home from lawsuits made against me. would an LLC or trust or other be best?
Hey joeknull,
If a judgment has already been passed against you, then you will not be able to transfer the properties either to a trust or a llc. Moreover, if there is mortgage on all these properties, then you will have to inform the lender before forming a trust or transferring them to an LLC. I think your lawyer will be the best person to help you in this regard.
If a judgment has already been passed against you, then you will not be able to transfer the properties either to a trust or a llc. Moreover, if there is mortgage on all these properties, then you will have to inform the lender before forming a trust or transferring them to an LLC. I think your lawyer will be the best person to help you in this regard.