Interesting-Field-45

Interesting-Field-45 t1_j8rorb3 wrote

They should lose their “business” and be liable. We would have a lot less landlords and a lot more housed people. Houses would not be insanely out of reach if actual human beings could own them. Mom and Pop landlords? Lol. Most ridiculous thing I have ever heard. LLCs don’t have to be attached to them personally, you can have a Montana LLC that has no name attached. A trust can own an LLC. There’s a reason people LLC in Delaware so often. Billionaires use LLCs to avoid taxes and launder money literally everyday. The tax codes are so intricate and so confusing, you have to be an expert to truly understand how they move their money around to legally evade taxes. People from countries like China exit their money via properties and goods.

1

Interesting-Field-45 t1_j8rg0ll wrote

They can have property managers, that has nothing to do with it. An LLC gives them zero liability or personal responsibility over any damages and any financial fall out. It also allows them to launder money via the property owned. The US is the largest money laundering hub in world and property is a great way for people to do it. If people couldn’t own property through their LLCs, they wouldn’t be able to utilize it as a means to launder money, exit money, or use it as a means to avoid paying taxes.

1