Q: If I put a parcel of real estate in an LLC in North Carolina, and fail to pay property taxes, can assets outside the
LLC (real estate, bank deposits) be seized? Or are only assets inside the LLC at risk?
A:
Generally, this depends on how you have treated your bank accounts. Many owners of LLCs use the LLC account as a personal account as well. If you have done this, it is possible to "pierce the corporate veil" and go after personal assets.
There are other ways to accomplish this as well, but this would be the most common method. If you are worried about this and want advice on avoiding this, speak to a local attorney.
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