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Business & farm
Interesting. Thanks! I wonder if I can dissolve the LLC partnership and create a new partnership that is not an LLC? I got bad advice online (that never happens!) that an LLC protects you from liability when you rent property. But since we didn't have the LLC until the beginning of 2022 and mingled funds in 2021 between the real estate endeavor and our personal accounts, even a law student could go for our personal assets in a lawsuit. We tried to have the deed in the name of an LLC, but the bank would not let us change in the middle of underwriting. We have liability insurance and there's nothing particularly dangerous for tenants to use like bikes or a pool or a free use of the condo howitzer.
March 22, 2023
5:31 PM