Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Insurance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 13 years ago,

User Stats

2
Posts
0
Votes
Margaret Saddoris
  • Toledo, OH
0
Votes |
2
Posts

Putting property in an LLC

Margaret Saddoris
  • Toledo, OH
Posted

I have just inherited a few homes that are paid off from a deceased family member. They are all in horrible disrepair. One of the properties was torn down while in a trust. The person in charge of the trust did not pay the taxes for this property for six years. I can't even give this lot away due to the back taxes. I do not have the money to pay the taxes either. I inherited my biggest nightmare. Had I known this, I would never have taken the houses. If I place the empty lot in an LCC will this protect me from any legal issues that might come along? My attorney swears to me that I will be safe, but he is also the person who gave me this nightmare. Also, the city has yet to send out a bill for the tear down of the property. Will the LLC protect me from this also?

Loading replies...