Any thing in an LLC together can be at risk in the event of litigation. 

There could be debt that you are not aware of, unrecorded liens, mechanics liens, welfare liens, estate and inheritance liens, Federal tax liens, etc.Also you could be subject to further liability and litigation for past events of the current or previous owners.You can buy the assets of the company without buying the company.And as to the name, you could license the name, or use a name similar but not exactly the same, and it would not be infringement, because the current owner could waive infringement. 

I'm a fresh civil engineering college graduate, and some people (generally men of industry that are 50 years old+) live by the mantra of gaining "experience"  by working at a company.

It's hard enough for my parents and I to keep from killing each other when we talk about the weather, if you complicated that with a business arrangement we'd be likely to start a civil war. 

I am currently heading into the last semester of my undergraduate degree in civil engineering.

Ann Bellamy Im hoping you can help me out with your expertise, when dealing with code enforcement leads, witch status should I focus on most to find the most motivation: Docket Information:-Not held but resolved-Dismissed-Continued-Return of service-Voluntary Dismissal -Civil Complaint-Defendant Defaulted-Amendent Complaint FiledCase Disposition:-Voluntary dismissal-Finding and order-Agreement-Pending

IMO, a moderator should not impead opions or beliefs so long as they are addressed in a civil manner without personal attacks.

Basically I am a 26 yr old civil engineering student who will graduate by Christmas and my girlfriend is a high school teacher.

Look for catalysts; single or compounded situations that act as triggers:ForeclosureDebts, bequests & creditor claims that must be settledDisputes/Litigation, etc.

@brad Glenn I am just getting into it but had I go to court for litigation already and we got the property!!!!