Legal Question in Real Estate Law in Washington

Llc

If I and another person own property together without a LLC and he is involved in litigation after we had obtained the property, is my part of the propery at risk because of the litigation?


Asked on 10/18/07, 12:37 pm

1 Answer from Attorneys
Elizabeth Powell ELizabeth Powell PS Inc

Re: Llc

Probably. Also, if the Court found that you had formed an LLC and then not followed the rules for maintaining a limited liability company, you (and/or your partner) could be personally liable as well.

Partnership law is in some ways similar to family law, and you can have a partnership with no formalities.

Elizabeth Powell

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Answered on 10/19/07, 11:50 pm


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