Putting privately owned rental property into LLC

[Betty M.]

I own a rental property which used to be my primary residence. It is owned privately, and there is a home equity line of credit on it. I want to form an LLC and put the property into the LLC. My questions are: (1) will the lender cancel and require the line of credit to be closed upon deed transfer? (2) if the lender allows the Line of Credit to continue in my name, does this affect the protections afforded me by placing the property in an LLC?
Thanks.

[Callum K.]

I'd be very careful with how you proceed. I know that if you change the title on a mortgaged property, the lender can potentially call the loan which will throw a wrench into everything. I would suggest looking at a refinance if you are able to do so.