All Forum Posts by: WAYNE G.

An applicant sent me an email stating she had qualified for RAP funds.
This was a new one to me. Turns out the great state of Maryland will provide housing assistance if you are being evicted and don't qualify for Section 8. (Sec. 8 has very long wait list.)
I actually called up to ask if they have landlords that want evicted tenants. Turns out there is a market for that, but not with me.

One of the requests was to cite a specific case where an LLC did not provide liability protection. The link below is for the Allen v Jay Dackman case in Baltimore City, MD. (Go to 2. What did he do wrong.)
http://marylandcommercialtitle.com/blog/wp-content/uploads/2011/05/2010-hit-parade-speech.pdf

Mr Dackman was in a two party LLC. His partner is not personally liable as he was not the managing member. The person suing him had no lease with him and he had no contact with the party. He received no rent and never intended to rent the home.

There is speculation that this ruling would allow a lawyer to sue the mortgage company over lead paint contamination, due to the broad interpretation of "owner".

Another case overruled legislation that capped liability for lead paint law suits at $17,500. Lawyers are now suing over elevated blood tests that were 20 years old. The city's public housing agency is reported to owe 900 million on these cases. They recently paid ~3.5 million on one case, the judgment was over 5 million, because they got some insurance money.

Lead paint is a huge liability in Baltimore. From reading this board it seems other states have much less liability for lead paint. Is it that your plaintiff's attorney's haven't found the gold mine yet, no one is running lead paint blood tests, or your children don't eat paint?

If they owe you money and you are not going to chase them for it, then send the IRS a 1099 forgiving their debt. They will have to pay income tax on the debt as if it were income. Its much harder to hide from the IRS.