Updated over 2 years ago on . Most recent reply
Personal residence to rental property
Hello! I purchased my personal residence in September 2021. I anticipate to be moving in September 2023 and would like to rent out my personal residence. I have a few other rentals in the area that are owned by LLC's. However, my personal residence is owned by me and my girlfriend.
What is the simplest and most cost-effective approach to asset protection for this property? I would like the property to be out of our names (for privacy) and also have it protected from creditors.
Based on my research, it seems this is the way to go - Deed the property to a Land trust and have a partnership LLC be the beneficial interest of the Land trust?
Looking for thoughts or other ideas and also advice on how to execute this correctly.