Bought properties under personal name now moving to LLC
Hey BP community - I bought some rental properties under our personal name and now as part of the estate planning process, I am reading/hearing that I should move these properties to an LLC and move that LLC into the trust. I know that changing the ownership in City Tax Records is relatively straightforward but I did take conventional loans on these properties.
I am concerned that the bank may have an issue with me changing the title in city tax records from my personal name "John Smith" to "JS LLC"? At the same time, I am sure I cannot be the only one in this predicament, and wanted to ask you all out there to see how you have managed this situation? Thanks in advance!