Hopefully a quick judgement from a Texas court and a lien on the property to secure the judgement might be the best way to see my deposit again from these guys.

He was able to pierce the LLC and get a personal judgement against the owner because the owner deposited the earnest money deposit into his own account.

The only way to collect from her would be via a judgement attached to the closing documents.BTW, as a side note, long ago I heard from an attorney that one of the worst things you can do is to leave UNDIVIDED INTERESTS in anything other than money to your heirs.

It was intended to be a flip, which we almost did, but the market changed and his judgement was off..

If I refuse the rent now that's 45 days to evict vs. a standoff on leaving one month early.Can't you just refuse the rent and get a judgement for all monies due after the fact?

Trust in your own judgements, stop being sheeple.There is nothing wrong with researching information, and deciding what is best for yourself.

The purpose of an LLC is to protect you and all your personal assets outside of the LLC in the event of an unfavorable monetary judgement against the LLC.I agree with the other posters that setting up an LLC can be simple and inexpensive.But would I be willing to "bet the farm" on my ability to do everything required exactly right to remain out of reach of litigious hyenas?

If all you do is pay back taxes, the owner can tell you thank you, now buzz off.You either have to get the owner to agree to pay you back (in writing), and then you muust take themto court and get a judgement before you can place a lien on the proprty.

The MSL number is not valid any longer.We went and looked into the windows yesterday to find out that the home has been stripped, the entire kitchen, and all bathroom cub boards, granite counter tops, fixtures, appliances, even the kitchen sink is gone.We realize that this has dramatically reduced the value of this home and we would still like to make an offer on this home hire a out of work sub- contractor to work for cash and replace everything back the way it was.The question I have is when I looked up the property records the home is still listed in the person's name that has defaulted but the clerk and comptroller's office is showing that this person has a judgement against them on this property from back in December.Is it possible that the records have just not been updated quick enough to show that the bank now owns this home?

It doesn't take much effort, but you should be able to get a judgement, and then just let it stay on the books until one day when she tries to buy a house again, and the judgement will still be there, and she'll have to pay it then.