LLC /LAND TRUST/ETC? - Posted by Andy

Posted by JHyre in Ohio on July 17, 2003 at 06:15:05:

Probably a land trust to provide anonymity (see Bronchicks course on the subject) AND a limited partnership (or two) for asset protection…the limited partnership, unlike an LLC, would be exempt from Texas franchise taxes.

John Hyre

LLC /LAND TRUST/ETC? - Posted by Andy

Posted by Andy on July 16, 2003 at 14:35:53:

I am a newbie and need some advise.
My parents ]reside in Texas]has few rental properties worht around $200k.All mortages have been paid off.All properties are still under their name.They did not set up LLC or land trust.They are now thinking to buy some properties also under their name.

Should I encourage them to set up LLC or Land trust to protect them?
Thank you,