The Business Guy talks about protecting your real estate from lawsuits. First we’ll talk about protecting your personal residence, and second, we’ll talk about protecting income property, such as rentals and rehabs. Then we’ll get into some detail about land trusts and other strategies. He will show you some illustrations on how to hold title, how to protect your assets from being taken away from you when somebody decides to sue you.
How to Protect a Home from Lawsuits
Most states have very little homestead protection. For example, in Pennsylvania, and New Jersey, home owners have no protection at all. In most states, when somebody sues, they can just rip the rug right out from underneath the homeowner, leaving them out in the cold. What can a home owner, investor or landlord do right now? Asset protection of the personal residence starts with privacy of ownership. Check out the video that explains the benefits of a land trust.
How to Protect Rental Income Real Estate
What is the number one tool that real estate investors use to ensure that if something happens the property is not going to be put at risk? Let’s face it — there are far too many attorneys out there looking to take a piece out of what we make. The easiest way to do that is find people who have assets in their own name. Clint Coons, Esq. with Anderson Business Advisors and Law Group provides this next video with many valuable details about real estate asset protection.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.