Transferring investment property to a LLC (multimember)
If an investment property is purchased by an individual can it be transferred to a multi remember LLC (3 members equal partners) that the individual is part of? Seeing some conflicting things so wondering if anyone has went through with this. Would like to know the potential tax implications and risks before pursuing.
Aware that the consent of lender will likely be needed and that loan documents should be reviewed to for due on sale or prohibition on transfer provisions.