Is There a Way to Put a Carriage House in an LLC?

[Matt B.]

We are going to buy a home that has a carriage house (on the parcel) and I was curious how I could firewall the liability if something were to happen in the onsite rental .... 

I would assume I cannot place the building itself into an LLC, and if I put the whole property into an LLC that would defeat the purpose, for the most part ...

[Joe Splitrock]

Originally posted by @Matt B.:

We are going to buy a home that has a carriage house (on the parcel) and I was curious how I could firewall the liability if something were to happen in the onsite rental .... 

I would assume I cannot place the building itself into an LLC, and if I put the whole property into an LLC that would defeat the purpose, for the most part ...

Living on or in the property makes it very difficult to shield yourself from liability. If both buildings are on the same deed, you will need to put them both into an LLC. Do you have much equity in the property or high net worth? If the answer to both is no, then an LLC is probably just extra hassle for little benefit.