shell1ton 0 Report post Posted August 23, 2006 I have a couple of properties that have all of their monies processed through my LLC.Neither of them is actually in the LLC's name.I have been pretty careful to always sign LLC checks as shell1ton, agent of LLC, in order to prevent "piercing of the corporate veil", but worse come to worst, am I protected if the properties aren't in the LLC's name?Thanks. Share this post Link to post Share on other sites
Dave T 0 Report post Posted February 24, 2007 Not a bit. You have the same liability exposure now that you had before you formed the LLC. All your personally owned assets are at risk -- your vehicles, your bank accounts, your brokerage accounts, your primary residence if you are on title, all the investment real estate -- essentially everything you own. I would appear that the only thing the LLC is protecting from an external lawsuit is the bank account you have in the LLC name. You did open it in the name of the LLC, didn't you? If not, then it is at risk too, and the LLC does nothing for you. Share this post Link to post Share on other sites
gfwproperties 0 Report post Posted February 25, 2007 It's easy enough to quit claim deed your properties into your LLC's name. If you want protection of your LLC, you need to do that. Share this post Link to post Share on other sites