Single Member LLC Liabilities

[Gretel]

SMLLC, multi rental complex, needs to refinance original loan and will get 1st & 2nd mortgage. 2nd mortgage might be in individuals name, not in LLC's. There are no possible tax consequences since disregarded entity but what is your opinion in regards to liability protection. Does is matter or not?

[ChEAr$]

Missing information

SMLLC, multi rental complex, needs to refinance original loan and will get 1st & 2nd mortgage. 2nd mortgage might be in individuals name, not in LLC's. There are no possible tax consequences since disregarded entity but what is your opinion in regards to liability protection. Does is matter or not?

So the question is.... is the real estate titled in LLC name ? I'm guessing not, since you
mentioned possibility that 2nd mortgage would be in owner's name.

And so it matters.

[Gretel]

So the question is.... is the real estate titled in LLC name ? I'm guessing not, since you
mentioned possibility that 2nd mortgage would be in owner's name.

And so it matters.

Yes, the real estate is in the name of the LLC. Second mortgage would be secured by other rentals and therefor not need to be in name of LLC as far as bank is concerned.