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Asked in CO May 19, 2022 ,  0 answers
Does an LLC (2 members) protect the members personally if the business fails and defaults on a real estate mortgage?
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1 Answers

Anonymous
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Posted on / Apr. 19, 2013 07:48:00

It all depends. Most times lenders will require personal guarantees. If there are personal guarantees those will apply and the LLC does not prevent the lender from going after that person for all of their assets.

If the LLC is having issues, the LLC should speak with a business attorney to discuss workout options.

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