An agent mention to me that laws are changing for lawsuit protection in Texas. It has to do with the mortgage, whether or not it is a recourse or non-recourse loan. Recourse meaning that the litigant can sue beyond the coverage of the mortgage insurance and into your personal assets. Is that true?
The non-recourse loan would protect from getting into personal assets, is that true?
Is an umbrella insurance coverage the easiest protection for RE Investors or do you need to create a seperate entitiy for each property? I’m told that in Texax not to use a LLC but to use a LP or LLP. Any comments?