liverpoolwalrus
New Member
I own several rental properties and 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). 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). Thanks.