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Updated over 13 years ago,

Bienes Raices's profile image
Bienes Raices's profile image
Bienes Raices
  • from Orlando, Florida
  • Member since Jun 12, 2009
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Bienes Raices's profile image
Bienes Raices's profile image
Bienes Raices
  • from Orlando, Florida
  • Member since Jun 12, 2009
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Bienes Raices
  • Orlando, FL
280
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Tax, SDIRAs & Cost Segregation

LLC, lawsuit, and equity in property

Bienes Raices
  • Orlando, FL
Posted

This post is a follow up to a statement made on another LLC thread...it was stated that you should worry more about the amount of equity you have in one LLC's properties, rather than about how many properties you own in a single LLC...

In the event of a lawsuit, how does the creditor obtain the equity? Assuming that you have $10K in equity and the mortgage balance is $60K, does the creditor/court force you to sell the house so that they can obtain the $10K?

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