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Updated almost 10 years ago,
- Investor and Real Estate Agent
- Milwaukee - Mequon, WI
- 6,278
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Title transfer into LLC destroys asset protection?
Mike Butler's book Landlording on Autopilot is a great read and I really like his hands on approach and school of hard knocks education. I just glanced it over again today to brush up on how to denie a rental application without getting in trouble and came across asset protection. There is one statement that does not make sense to me:
- transferring title from personal to entity without realizing it destroys all your asset protection (page 68).
It sounds like there is a better way of transferring title of a SF into the LLC? What would that be?
Further, even if the transfer "pierces the corporate veil" or weakens it, wouldn't it take a very dedicated plaintiff lawyer to first sue you and then dismantle the LLC in the process before really getting anywhere with the case?
- Marcus Auerbach
- [email protected]
- 262 671 6868