Matt Gilligan can't open US LLC's Fat, what are you on about?? I'm in America right now, buying in your own name is a great way to get sued man, don;t do it!!
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We must be speaking different languages. If you own a property in your own name in the USA you can be sued and you are personally liable. They could pursue you in your own country if they thought you had assets. If you own your rental in an LLC you can only be pursued for the available equity in the LLC. Tenants, tradesmen and a raft of other people could sue you at any time, this is after all America we are talking about.
Nothing to do with honesty, slip and fall scams are a favourite over here in some cities. Many larger PM companies would have at least a law suit a month they deal with.
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Originally posted by Dean@Massiveaction View PostWe must be speaking different languages. If you own a property in your own name in the USA you can be sued and you are personally liable. They could pursue you in your own country if they thought you had assets. If you own your rental in an LLC you can only be pursued for the available equity in the LLC. Tenants, tradesmen and a raft of other people could sue you at any time, this is after all America we are talking about.
Nothing to do with honesty, slip and fall scams are a favourite over here in some cities. Many larger PM companies would have at least a law suit a month they deal with.
Dean,
A little knowledge is a dangerous thing. And you have a “little knowledge.”
None of what you said is true. Popular myths purported by people who barely participate in civil society. Ridiculous nonsense is all you are spouting.
Obviously, you’ve never heard of insurance – or are not buying it (or can't get it) on your properties. People can only sue you if you have money. While we have never met -- I know of you. And I know enough about you to know that you have nothing to worry about.
However, if you believe these things to be true, and are sued, you would need a much higher corporate instrument to protect your personal self and personal property than a simple LLC.Last edited by fatfishandchipman; 14-06-2011, 12:45 PM.
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you would need a much higher corporate instrument to protect your personal self and personal property than a simple LLC.
Insurance covers you up to a certain amount but lawyers name everybody in suits here. So you can't be personally named as long as you use LLC's to hold your assets.
But you can argue with US asset protection attorneys if you like. I'd rather just make sure people are safe by telling them to ALWAYS use an LLC and do NOT buy in your own name in the USA, especially if you are a kiwi :-)
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