HELOC on property under LLC

3 Replies

Hi everyone: 

Got 2 questions:

1. Is there any way to get HELOC on property tied to LLC ?

2. If no, then how about this : Buy property on my name and get HELOC.

If so, then can anyone sue me and get the property, since the property would be now with the Bank I got HELOC from.


Any suggestion is greatly appreciated. Thanks.


Originally posted by @Jay Sutar :

Hi everyone: 

Got 2 questions:

1. Is there any way to get HELOC on property tied to LLC ?

2. If no, then how about this : Buy property on my name and get HELOC.

If so, then can anyone sue me and get the property, since the property would be now with the Bank I got HELOC from.

Any suggestion is greatly appreciated. Thanks.

Your LLC can be sued with or without a HELOC.

You can be sued with or without a HELOC.

What are you doing that is going to get you sued? Whatever it is, Don't do it.

As Mike said, having an LLC won't stop someone from suing. It will limit your personal liability, so that it is harder to take your personal assets. Here's a link on HELOC's. It looks like it is sometimes possible, but less likely than on your primary residence. https://www.lendingtree.com/home/home-equity/heloc...

Thanks Mike and Amanda for your responses.

However my 2nd question is still open: If someone get's sued for a property (not under LLC), with a HELOC, that technically means the property is owned by bank. So legally is it likely that seur would take away that property ?

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