Moving property out of LLC to refi
Hello all,
I am looking to put financing on a rental property I own outright through my LLC. I am told I will need to move the property into my name to do this. I would like to move the property back into my LLC after obtaining financing. Do any of you have experience with this? What is the process? Is it two quick claims deeds? What are the implications, risks, caveats? Would this compromise whatever liability protection does exist with the LLC?
Thank you,
Nick
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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@Nick Brubaker
If you get a conventional/Fannie loan, they now allow you to transfer into a whole lot owned single member LLC with no due on sale issues.
Yeah, it probably makes it easy to pierce your LLC, but not an attorney.