Any FReeper here who knows about these LLC's and what these people are up to? Give me the crash course please.
Who is Anna Duggar?
I can’t answer specifically, but I knew a guy who owned a number of properties. Single family homes and some small apartment buildings. Each of them was held in their own LLC. It was a way to protect one assets from the others. In other words, if he had to give one to the bank at a loss, the bank couldn’t get hold of the other properties because each LLC was a separate legal entity. I suppose it could be done if the accounting was sloppy... but he was an accountant.
Why would anyone outside that family care. As far as I know, the only aggrieved parties are IN the family. Seems kind of odd to be researching their finances.
My wife worked for an international bank (property development). The bank formed an LLC for each piece of property they bought, meaning they had formed tens of thousands of LLCs over the decades. If anyone filed suit about one of the properties, liability was limited to that one piece of property, nobody could sue the bank directly, they had to sue the LLC responsible for the property.
Do you seriously care about these losers? I have some good books, the red Sox are playing, a nice chianti. I cannot imagine wasting a brain cell on them.
That way if you get sued you do not lose everything.
It’s a good question- each LLC is protected so the whole enterprise can’t crash at once. Since they’re doing it purposely I’d think it shows some kind of intent toward shady, but maybe technically legal. I believe it’s a fairly common practice.
JimBob ooozes con man.
They had a contest to name the twins, I entered Grave and Ditch and was banned from the social media group!
I dunno. Does “backwoods barbi” wonder about the Kardashian empire?
And, I don’t care.
Why do you care?