A valuable asset
protection strategy for real estate investors is to place each separate real
estate property into it’s own LLC. The
LLC shields the owner from potential liability or debts that may result from
the real estate properties. By each property being owned by a separate LLC,
this also shields the liability of one real estate property from being impacted
by another separate property that may be underperforming or be subject to a
lawsuit.
Florida is a
state with very strong LLC protection. However,
in order to obtain this asset protection, the LLC must have more than one
member. A multimember LLC in Florida can
not have its assets attached by a single members individual creditors and is an
excellent safeguard that should be utilized by real estate professionals. Interested in preparing a proper asset
protection plan for your real estate assets? Contact the experienced attorneys
of Morris Law Group.
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