@Lance LvovskyI am just trying to better understand why is an LLC so much touted for it's asset protection?

Could it help with asset protection?

For the past week I’ve been trying to figure out if I am allowed to start an LLC for asset protection and have gotten some conflicting answers from several different lawyers.

I also think limiting your access to financing and not receiving the lowest interest rates possible can hurt you.Get umbrella insurance if you want to be protected.

I contacted my mortgage broker and most lending programs have been put on pause and those that are still going are requiring 70% LTV to protect themselves.

I understand that landlord tenant laws were made to protect tenants at a time when tenants were taken advantage of but now it seems as if we've gone too far in the other direction.

I understand that landlord tenant laws were made to protect tenants at a time when tenants were taken advantage of but now it seems as if we've gone too far in the other direction.

Are you doing anything differently to protect yourself?

The way my lawyer explained it "the seller could sign a hundred contracts as they are no laws against it".The way to protect yourself is to a public filing of the P&S contract at the county clerk's office and the first to file would take precedence against all others.

The price is fixed, the earnest money is fixed and only the price is left in flux.I'm doing some calculations but as a seller, this seems like it would protect both sides to accomplishing a successful closing.Your thoughts?