liverpoolwalrus
New Member
I am a Maryland resident and own rental properties in MD, OH, CO and FL. I also have liquid assets in the bank. If a tenant were to prevail in a lawsuit because of some mishap or situation at the property, could s/he have access to the equity in my other rental properties via a lien, for example?
Could I ever be forced to sell one of my other properties to satisfy a lawsuit? Let's assume I have no separate entities on them such as LLCs, nor an umbrella policy (I say that because my concern is that liability could conceivably go beyond the provisions of those instruments).
But, speaking of LLCs, would having the other properties in LLCs make them off limits to the litigant? Thanks.
Could I ever be forced to sell one of my other properties to satisfy a lawsuit? Let's assume I have no separate entities on them such as LLCs, nor an umbrella policy (I say that because my concern is that liability could conceivably go beyond the provisions of those instruments).
But, speaking of LLCs, would having the other properties in LLCs make them off limits to the litigant? Thanks.
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