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8 August 2021 | 12 replies
@Jonathan LitzenbergerThere are several older forum threads in relationship to the Question on whether buying the property with a personal Mortgage, then transferring it to an LLC negates the Liability Protection the LLC supposedly gives you.If you Goggled "personal mortgage LLC pierce corporate veil" you will come up with a 7 year old previous discussion here: Question about ability to pierce corporate veil with real estate held in LLCThere are other tons of articles and literature which has that discussion, including one on Nolo's website here:Piercing the Corporate Veil: When LLCs and Corporations May be at Risk"Commingling assets.
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7 August 2022 | 7 replies
You can't use the LLC as your alter-ego or else it will pierce your corporate veil.
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7 July 2023 | 4 replies
A good lawyer could argue you have pierced the corporate veil.
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9 January 2021 | 5 replies
Otherwise, you'll "pierce the vail" and it will be useless.
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30 December 2023 | 7 replies
Co-mingling and alter-ego are two major issues to piercing your corporate veil.
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25 November 2023 | 2 replies
Once any of these is intermingled with your own name, the LLC is pierced.
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11 April 2022 | 11 replies
She seemed puzzled and, after a quick disclaimer, said that it seemed like an odd and unnecessarily complicated thing to do, because "The corporate veil in Michigan is already difficult to pierce.".
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7 February 2023 | 3 replies
Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).
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5 December 2023 | 3 replies
If properties are also financed in your name - setting up LLC's will be easily pierced unless you actually sell the property to the LLC (meaning the LLC pays $250,000 for that $250,000 property). 3.
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5 April 2023 | 7 replies
Did I just pierce my corporate veil?