Quit Claim Deeds
Fellow BPers,
I have a company which I'd like for it to hold my real estate properties for purposes of limiting liability. I am purchasing properties personally as I cannot finance them with the company yet. I am transferring the asset via a Quit Claim Deed, but repeatedly hearing that this might be an issue for the mortgage holder and they may invoke the Due Upon Sale clause.
Questions:
- What is the most easily accepted method of doing this that works for all parties (as opposed to a Quit Claim Deed)?
- If there is no getting around this, what is the best way to approach the bank? What are the concerns that I should be addressing?
- Please let me know of any other thoughts you might have on the matter...
If it should matter, I'm primarily working in Georgia and South Carolina.