Transfer of Title
Team,
If I complete a transfer of title from myself to my LLC for a property of mine via quit claim deed, will the debt transfer to the LLC and be removed from my personal credit profile?
Teetering the idea as I recently have begun to explore asset protection/making assets invisible to the entity that is me via a trust where I am the trustor and trustee.
No, the mortgage is in your name, and you would need to sell the property or refinance it with a loan under the LLC to have it removed from your personal credit (in most instances). Also, just because the loan may not appear on your personal credit, does not mean you are not personally liable for it. Make sure you are aware of the Due on Sale Clause, that is a part of most mortgages.
Anonymous LLCs may assist with privacy but, if the LLC that owns your property is sued, the plaintiff will quickly learn your name (since you will defend your LLC), and they will amend the complaint to include you personally.