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Updated about 3 years ago,

User Stats

79
Posts
21
Votes
James Kim
Pro Member
  • Investor
  • Los Angeles
21
Votes |
79
Posts

Texas LLC and liability protection

James Kim
Pro Member
  • Investor
  • Los Angeles
Posted

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?

  • James Kim