Updated over 8 years ago on .
Most recent reply
presented by
CA LLC Still Separate?
I have a rental property that belongs to a California Single Member LLC. My LLC is on the property's title, not me. All the leases are in the LLC's name, and rents are deposited in the LLC's bank account.
The mortgage is still in my name because the bank won't switch the names. If I'm personally sued, is the equity (if any) in the rental property still at risk?
What if the LLC is sued because there was an incident on the rental property it owns? Are my personal assets at risk?