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> there may be no limit to your liability. You can put the house into a limited liability company, which theory should limit the liability to the value of the
by robocat 3y ago
> there may be no limit to your liability.
You can put the house into a limited liability company, which theory should limit the liability to the value of the house.
Depending on whether director negligence was involved etcetera.
- MechanicalTim 3y agoMy understanding is that for an LLC to provide protection the house would have to be used for purely business purposes and that there can be no co-mingling of personal finances. the concept is called "piercing the corporate veil". IANAL but I looked into this pretty extensively when choosing how to protect myself with investment properties.