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Updated over 5 years ago,
LLC Protection Questioned
In the slip and fall scenario, where the renter slips and falls on your property causing them to pursue legal action against you, what is to stop them from suing the business (the LLC) and you (as a negligent landlord)? Wouldn't this defeat the protection purpose of the LLC that I seem to read about everywhere?
I am about to market my first rental and am in the process of opening an LLC. I plan to put that property in there to separate it from my personal assets and all of a sudden I thought of the scenario above? Any thoughts? Am I thinking about this the incorrectly? The property and the LLC that will eventually own it are in North Carolina.
Thanks in advance.