by admin

Real Estate LawJuly 1, 20220 comments

Real Property Asset Protection

If you are a property owner, it is important to take steps to protect your investment. A real estate attorney can help you create an asset protection plan that will safeguard your property in the event of a lawsuit or other unforeseen event. At MUNGER DENKER RUIZ BARBOUR., our law attorneys are experience in real estate law. We can help you establish LLCs, corporations, and other legal entities to protect your assets. Contact us today for more information! In today’s blog, we want to talk more about different strategies that can help you protect your assets.

Get Landlord Insurance

This type of policy will protect your property in the event that your tenants damage it. It is important to have this coverage because it can help you avoid having to pay out of pocket for repairs.

Create an LLC

Another great way to protect your assets is to create an LLC. This legal entity will help shield your personal assets from liability. One of the biggest benefits of creating an LLC for your assets is that in the case of owning more than one asset, in case of any lawsuits, only one asset can be at risk.

Avoid Risks

Ensure that if you are going to rent the property out, you do a background check on prospective tenants. This will help to avoid any risks associated with renting to someone with a criminal record or who may be likely to damage the property.

Real Estate Trusts

You can also create a real estate trust which will help to protect your assets. This type of trust is created for the purpose of holding real estate property. The trustee manages the property on behalf of the beneficiaries, and in the event that something happens to the property, the beneficiaries are protected.

Receive the Assistance You Need From Our Attorneys

As you can see, there are a number of different ways that you can protect your real estate assets. It is important to consult with an experienced real estate attorney to find the best solution for your particular situation. At MUNGER DENKER RUIZ BARBOUR, we can help you create an asset protection plan that will safeguard your property.