Updated over 7 years ago on . Most recent reply
Adding someone to title after closing with a bank
Hey Everyone!
I am closing on a multi family property here soon. I am along ways into the loan process already and don't want to mess anything up or slow the process down, as we need to close ASAP. It will be purchased under my LLC with me as the guarantor on the loan. With that said, I have a partner who is coming now for a percentage of ownership in the property. He will be support the rehab expenses. Since I am so far along in the loan process... Is it possible to add him to the title after we close and not the loan? Will the bank care since we are not transferring title but only adding someone? Any thoughts on the topic or ways to handle this would be very helpful!
All the best!