Suppose you bought a property that had serious environmental problems (lead, gasoline, etc.). An environmental authority calls you on it and orders you to clean it up.

You bought the property through an LLC or a C corporation, and the clean up costs bankrupt it. Assuming that the entity's paperwork is in order, are you protected from personal liability?

  • I have edited your question so there is only one question. The others are good questions so please post them separately. – Dale M Oct 3 '19 at 1:06

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