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RayAnswers, Attorney
Category: Business Law
Satisfied Customers: 38857
Experience:  I have 30 years as a business lawyer in Texas
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Five years ago we built a house and we decided to lease the

Customer Question

Five years ago we built a house and we decided to lease the house we were in. Then we decided to buy a small cottage condo in Rockport ,texas. This cottage is also vacation rental property that is managed on site. Should we put these properties in an LLC.
Submitted: 7 months ago.
Category: Business Law
Expert:  RayAnswers replied 7 months ago.

Hi and welcomility e to JA. Ray here to help you today.

You may want to put these in an LLC to limit your personal liability if say someone sues you they are limited to the LLC

here in Texas.Certainly this is very common to do so as an owner of such properties.I would consider doing so and setting up a Texas LLC and then quit claiming the properties into the LLC.

Expert:  RayAnswers replied 7 months ago.

You can do this yourself.Here is how to do so.\

http://www.nolo.com/legal-encyclopedia/texas-form-llc-31745.html

Expert:  RayAnswers replied 7 months ago.

I appreciate the chance to help you today.Please let me know if you have more followup.If you can rate 5 stars when we are done it is always much appreciated.

Customer: replied 7 months ago.
Ok
Expert:  RayAnswers replied 7 months ago.

Thanks did you have more follow up.An LLC here and quit claiming it is the way to go, very common in Texas.Thanks again.