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"Walking away" is just a concept --- not a realistic option... (by Orville M.):

lewism20 wrote:

I like this idea. How much does it cost to set up an LLC?

I love it, but there are some possible obstacles. If you're transferring title from yourself to any third party including an LLC and still owe on the TS, you'd probably have to satisfy the lien held by the mortgagee. Depending on your state laws, you might even have to satisfy current/past debt for MFs.

If you own it outright, you'd want a lawyer to read all the terms of the original sale and ownership and membership to see whether the TS company anticipated this with some boilerplate provisions that would prevent you from escaping responsibility, and whether such prohibitions would hold up in court.

And there's always the possibility that the TS company could allege in court that this was a fraudulent transfer, intended to escape debt responsibility. (Duh!) Yeah, corporations legally do that all the time, but you'd have to know your state laws - including ones crafted by TS lobbyists to their advantage - to know whether you are at risk for that.