Moving a Property into an LLC
I own a couple investment properties, but both of them were purchased under my name (as opposed to an LLC) due to the simpler process of acquiring a loan. I realize that having properties under my name poses a lot more liability, and so I would like to move these properties into an LLC, but part of the disclosures when signing for the loan stated that I would not transfer the title of the property. I talked to my mortgage lender, and she said that I could work with the title company to transfer the loan to an LLC, but that if the bank noticed this change then they could take back the loan. Does anyone have suggestions for protecting my personal assets from liability in a way that doesn't violate the terms of the loan?