Arcadia, CA · Member since 2017 · 35 posts · 3 votes
Hi All!
I have a quick question. I purchased an investment property in Tempa, Florida this year. Right after I closed, I transfer it from my personal name to my 100% own LLC.
Recently, someone mentioned doing that will subject to some kind of transfer tax or stamp tax?
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
4y
Generally, this will not trigger transfer tax. However, it likely violated your due-on-sale clause on your mortgage. While that is also low risk, you have made it more difficult to do a cash-out-refi should your property appreciate. Unless you want a commercial loan, you'll have to transfer it back into your name and wait 6 months before doing a refi.