Legal Question in Credit and Debt Law in Florida

As a way to protect equity in a rental property, I'm wondering about the following strategy; place the property in an LLC and record a mortgage on the property making myself the mortgagee for an amount roughly equal to all the equity. My concern is a tenant suing me for X amount of money and winning a judgement in today's ridiculous legal climate. If there's no equity in the property, and the property is held by an LLC, there's basically nothing there to take. Does that sound right? Thanks.


Asked on 9/29/16, 8:52 am

1 Answer from Attorneys
Lucreita Becude Lucreita D. Becude, P.A.

Hiding your assets is illegal. This would not be the forum for you.

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Answered on 9/30/16, 8:13 am


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