Can you put the house you live in into an LLC to protect it.

[Mathew Collins]

So what I want to do is protect my house with an LLC while living in it. I own the house outright. Is this a good idea? Can it be done? I will also be buying another property soon as well and would like ito to be in the LLC.

[Tom Gimer]

Around here that would turn a primary into an investment, negate homestead, eliminate real estate tax breaks, require rental registration and lead cert, etc. Of course it would eliminate the capital gains tax exemption too.