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Updated about 3 years ago,
Texas LLC and liability protection
Hi, i'm in the process of purchasing investment property in TX. I plan to transfer the property to a TX LLC for purposes of liability protection not too long after closing. I was told recently that in Texas, unlike some other states, it did not matter whether you put the property in an LLC or any other entity as a tenant can still sue you (the owner of the LLC) and all your other assets can also be subject to risk. I thought that if the LLC held the property then you could keep all your own personal assets away from any potential liability. Did something change in Texas recently that changed things? or am i understanding things incorrectly?