Transferring my primary residence to an LLC

[Patrick Loshek]

Hello BP,

I am about to move to another state where I will be buying another house. I would like to transfer my current primary residence to a LLC and rent it out. I currently have a mortgage on the property and do not know where to begin. House is in Michigan if that's important. I appreciate the help!

[Scott E.]

Quote from @Eliott Elias:

Get with your lender and see what they say. It's a super easy process to change ownership 

Bad advice. Not only will his lender not be able to help with this request, they are going to tell him that he cannot move the property into an LLC because of the "due on sale clause"

Instead, call a title company and a real estate attorney. They will be able to guide you through the process of moving your home from your name into the name of your LLC.