Legal Question in Business Law in Florida
Forming a LLC to protect other assets
Forming a new LLC#2 for a purchase of a 1 million dollar Building with the same members as another LLC#1.
Will this protect the building, (now with a 1.5 million value), if there is a lawsuit pursued against LLC#1?
Asked on 3/05/08, 8:45 am
2 Answers from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Forming a LLC to protect other assets
It should. Must be careful to keep each corporation's affairs and records separate.
Answered on 3/05/08, 1:05 pm
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Forming a LLC to protect other assets
It should. Must be careful to keep each corporation's affairs and records separate.
Answered on 3/05/08, 1:05 pm
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