Moving Property into an LLC

[Julie Asmussen]

Hi BP Family,

I just setup my LLC and want to move my rental from my personal name into the LLC.

The problem is two fold: 1) I have a 3% loan on it that I don't want to let go of 2) I have a heloc on this property.

How do I just get it moved under the LLC without having to do a refinance?

Thanks so much for your collective wisdom,

Julie

[Dror Brumer]

Quote from @Chris Seveney:

@Julie Asmussen

Why are you wanting to cost yourself more money? Moving to a LLC only costs you more money and does nothing else for you

If you think it will do asset protection you are getting bad info because your LLC is not separate from you, why is that, because the LLC did not even buy the property you moved it over and still have a loan in your name

What about setting a trust that will hold the property and the LLC will hold the trust ?