I solely own a 2 family investment property. An existing tenant may be looking to sue me for a recent negligence/tort incident case but has not done so yet. The incident is not protected by my home insurance.
If I have a lawyer immediately form the LLC and transfer property to it. Can they still go after my personal life savings because incident happened before I formed LLC and LLC may be no be established long enough?
###Forming the new LLC
At this point I am looking to form the LLC under my name solely.
###Lawsuits against the LLC
Money wise, I am not sure what they would be able to sue LLC for if subject property value and outstanding loan break even, hence no equity and minimal positive cashflow
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