Mortgage Called Due Upon LLC Transfer

[Jeff L.]

Hi.

I have 4 rental properties financed through 3 different mortgage companies. 2 of the 3 told me today that they would call the mortgage due if I transfer the property to an LLC.

I am waiting to hear back from the third.

Has anyone else ran into this?

Jeff

[Bryan Hancock]

You can transfer the property to a trust and assign the beneficial interest from the trust to your LLC. If the lenders won't let you transfer them and you are trying to protect yourself there is no other good solution.