HELOC and the Corporate Veil

[Alan Bostick]

Another question about the utilization of HELOC.

If I were to buy a a home out right using HELOC on my personal residence but in the name of LLC, then refinance to pay off the HELOC… OR buying with HELOC in my name then transfer to LLC, then refinance in LLC and use that to pay HELOC off, would either of these situations be considered piercing the Corporate Veil?

[Kerry Baird]

I use owner contributions to an LLC and owner distributions to move funds back to me. I am using Stessa right now, and annotate every move of money as owner contribution or distribution.