Transferring Property to LLC

[Steve Christensen]

I have a friend with a few properties who bought in his name with an umbrella policy. Now wants to transfer to an LLC. Mortgages are with Chase and US Bank, and they are giving him the run around. Is there a way to do this without initiating the Due On Sale clause?

One bank said he'd have to put in a commercial loan. He does not want to have to refinance either.

[Thomas S.]

Why would he want to complicate his investing when he already has all the protection he needs with his umbrella policy. Is he doing it because "it is the thing to do" or does he actually understand what he is doing.