Can I put my already paid for home under my LLC?

[Emelin Williams-Nelson]

I am trying to open a veterans group home in the state of Michigan and wanted to use my house that is paid off already. I just started an LLC for the business and was hoping that I could list the home under my new LLC. One of my questions are do the home have to be in a commercial zone for me to do that? Does anyone have any ideals on how or if I can make that happen?

[Glenn McCrorey]

@Emelin Williams-Nelson Couldn't say about your local zoning laws but putting the house into your LLC isn't difficult but you might not want to do that. You use a "quit claim deed" which transfers ownership. You can run a business as an LLC but use a house you own. The whole idea is to protect your personal assets if your business gets sued. I wonder if you could sell your house tax free to your LLC, pocket the cash, and have your LLC make the payments from your business revenue? Or, refinance it now and use that money to get your business going. Just brainstorming so I'm interested to see what others say.