Updated over 7 years ago on .
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Can a Property Be Judgement Proof?
Could something like this work to make a property judgement proof?
Property owned by Ownership LLC is worth 100 k. Has a 100 k interest only mortgage to another LLC I own called Capital Holding LLC. Slip and fall happens with a judgement lien of 10 k vs Ownership LLC.
Since Capital Holding LLC has a 100% LTV mortgage recorded ahead of the 10 k judgement lien how could the judgement ever be collected? Worst case just sell the property so the money comes back to Capital Holding LLC which I also own.
Seems pretty simple. Am I missing something?