Updated about 4 years ago on . Most recent reply
Buying a vacation home and plan to quit claim to LLC
I am under contract to purchasing a vacation home and I think I need to quit claim the home to my LLC at closing. Is that the right thing to do? Will the loan company find out if I quit claim? Do they care?
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John Underwood
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
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Why do you think you need to put it in an LLC? Are you going to do something shady? Or not take care of your property?
Just have the correct STR insurance and take care of business as you should. The mortgage will be another layer of protection. You could get an umbrella policy if you need another layer of protection.