How to Vest Title when LLCs not option

[Heather K.]

Our First rental property, multiple tenants renting by rooms, my adult child being one. House is under Contract, Lender wants to know how to Vest Title. We currently have an LLC we made just for purposes of rental property investing but we are told it's not an option. How should my husband and I title this? Are we able to change title to our LLC after closing?

[Megan Templeton]

Hi there! @Heather K.

It will be dependent upon the type of loan and units in the property as to whether you can transfer to an LLC post closing. IF the lender wont allow an LLC on the front end, I would recommend asking them about a business trust or differ type of entity like a partnership.

Thanks,

-Megan