Usually the person with the assets is the one that gets to lose the asset. Always carry massive umbrella policies and hire a PI to conduct full background check.
There was a story last week in the WSJ about asset forfeiture of a hotel because the police had made about 100 arrests in the hotel over decade, so they charged the hotel for being a conduit for the drug trade even though the owner was never charged. Since assets don’t have any constitutional rights, don’t expect the law enforcement friendly conservative SCOTUS to help out.
Some people in HOA wanted to give gift baskets to new homeowners in the neighborhood, but HOA said we may get sued if there is a problem with the basket. There was a lady who was having problems moving her car at gas station so my buddy got in her car and moved it. His friends said you should never talk to strangers, they could have sued you for a dozen reasons.
What is the take away? Don’t rent to strangers (especially not relatives), stay scared straight, never give gifts, don’t loan tools or cars to people. I guess this is the true American spirit.
