Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply presented by

User Stats

6
Posts
0
Votes
Allan Lim
  • North Aurora, IL
0
Votes |
6
Posts

Personal to entity property ownership

Allan Lim
  • North Aurora, IL
Posted

I am in the process of acquiring a property in Texas and the loan will be under my name and my wife's name. I wanted to take out a loan under my entity but because the entity doesn't have any credit history it will not get approved.

Question- how can an entity (Corp or LLC) become the legal owner of a property if the loan is under my name and my wife's name? Is ownership based on the parties responsible for the loan or property ownership can be transferred by a deed from an individual to an entity?

I ask this because I wanted to protect ourselves since this will be a rental property.

Thank you.

Loading replies...