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URL:  https://boards.fool.com/peter-did-the-llc-own-the-property-yes-30899879.aspx

Subject:  Re: Payments On UnOwned Property Date:  10/2/2013  1:27 PM
Author:  brucedoe Number:  119249 of 129252

Peter

Did the LLC own the property?

Yes. Technically, the gift was of a company and not a property. Our lawyer thought that having the property in an LLC would be one line of protection in case some renter got hurt and sued. We also had a ballon (umbrella) policy because you can be sued anyway. One year we did have a lady who broke her ankle but never even approached us as it was taken care of my her health and backup insurance.

brucedoe
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