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    charris0918's Avatar
    charris0918 Posts: 1, Reputation: 1
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    #1

    Feb 12, 2009, 03:24 PM
    LLCs and Judgements
    I am in the state of Texas and I have a rental property that I am trying to sell. I also have a personal judgement that has recently attached itself to the property. If the property is under an LLC, can the enitity holding the judgement touch any proceeds to the sell of my rental property? Please note that the home has equity. Thanks.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Feb 12, 2009, 05:07 PM

    Hello c:

    The whole idea of forming your limited liability company is to limit ITS liability to ITS own affairs.

    Therefore, your personal judgment should not attach. Given the situation, I'd have an attorney represent me at closing.

    excon

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