Posted by John Merchant on April 29, 2005 at 21:06:12:
If someone were to sue you from some event arising from that property, he might make an effort to persuade the court that your LLC was only a sham as you went in and out of it at will.
It would be a fact issue as to whether your LLC was or was not a real entity, and if court ruled against you, the LLC wouldn’t have done you any good here.
LLC transfer jeopardize lgl protection? - Posted by Lauren IN
Posted by Lauren IN on April 29, 2005 at 14:24:42:
If I transfer my rental property out of my LLC into my personal name to get financing, and then transfer it back into the LLC, does this jeopardize the asset protection from the LLC (after being transferred back in)? If so, is it because the financing is in my name, or is it because of the lineage of ownership showing my personal interest in the property?
Thanks,
Lauren IN