Transferring the title but not the mortgage?
I purchased my 1st duplex but had to go conventional using my credit etc. for the loan... The loan is set up as an investment in the banks eyes. I didn't have a LLC established or the experience needed to help get them to loan against a LLC like I will try in the future with a track record on my newly formed LLC.
So can I transfer the title into the LLC without triggering the due on sale clause? I want to say a lawyer recommended transferring the title if I couldn't transfer the mortgage but I could have misunderstood when I heard them say that...
Thanks BP!