Legal Question in Real Estate Law in Missouri

Llc & legal rights

I am forming an llc to purchase a piece of property with a house on a lake. There will be 4 individuals forming the llc. If one of the parties has any legal judgements against them, i.E., bankruptcy, creditors seeking payment, child support, irs taxes, does the llc protect me from the other individuals financial burden/problems?


Asked on 10/05/04, 8:37 pm

1 Answer from Attorneys
Eric Fisher Law Office of Eric A. Fisher. LLC

Re: Llc & legal rights

Using an LLC to own real estate is a very good move. As long as the entity is created properly and the formalities are observed, you should not be personally liable for the personal debts of another member.

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Answered on 10/06/04, 12:00 pm


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