Legal Question in Real Estate Law in Utah

If I hold title to a property in an LLC, and I am forced to give up that property because I can't pay the mortgage, does the mortgager have the right to go after personal property such as my primary residence?

Thank you


Asked on 10/03/09, 12:08 am

1 Answer from Attorneys
Cory Wall Cory R. Wall, Attorney at Law, P.C.

Usually, the only way a creditor can come after your personal assets is if you signed a personal guarantee on the loan for the LLC. If you didn't sign such a guarantee, the LLC shields you from personal liability on the debts of the LLC.

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Answered on 10/10/09, 4:27 pm


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