Should you place your home in an LLC?

If you own your on business, chances are you have a limited liability company or LLC.  Buying a home under a LLC can be beneficial for 2 main reasons.

Reason 1
Homeowners can maintain some anonymity, as the LLC is listed as the property owner. For property owners who do you want nosy people to be able to locate their address in public records, buying a home under the LLC is the way to keep the buyers name from entering the public record.

Reason 2.
Owners have more protection. In the event of a lawsuit. If you own your revise set under your name, someone who is injured on your property can sue you directly. While homeowners insurance and umbrella policies will cover the payments on a successful lawsuit up to a certain point, your other assets could be garnished to pay the rest of the damages.
However if the property is owned by the LLC, then the only assets that can be garnished as those owned by the LLC, which usually would only be the property itself.

Keep in mind that establishing the LLC can impact property taxes and capital gains so if you are considering buying through an LLC you will want to contact an attorney and Tax advisor who are experts in the field

I'm Judy Ballard with Illustrated Properties and Christie's Intrnational Luxury Marketing Specialist.  As always make it a great home buying or selling day.