LLC Quick Tittle - Pros and Cons

General Real Estate Investing
1

Hi all,

I have a property that I intend to quick title into my LLC. I know that i do this to protect my assets in cased I get sued.

Can somenody tell me if my LLC gets sued can I loose the house and then I will personally be stuck with the mortgage to pay off?

Is there any way to pass the mortgage into the LLC?

Thanks for your help

2

I have the question. I posted it a few weeks ago, but got no response. This is what I posted. Appreciate any insight.

From earlier post:

Questions:

  1. If there was a claim against the LLC and the property had to be liquidated to cover the claim, would the proceeds from the liquidation 1st go to pay off the outstanding mortgage debt and only the remaining amounts would be available to pay the claim or would my wife and I be liable for the outstanding mortgage?
3

http://www.reiclub.com/forums/index.php?board=39;action=display;threadid=8759