Can I quit claim deed into my series llc when only wife is on mortgage?

[Justin Igoe]

Long time lurker on BiggerPockets and very grateful for all the great info I've found here over the years. 

My wife and I are moving out of our current home and going to rent it out. My wife is the only one on that mortgage which is owned by Fannie Mae. We are both on the house deed. I have a Delaware Series LLC which as of now I'm the single member.

If I open a new series 50/50 with my wife and quit claim our house deed into that series would that violate the mortgage or trigger the due on sale clause?

I heard Fannie and Freddie now allow you to transfer their mortgages into LLC's but my concern is that I'm not a borrower on the mortgage and we'd be transferring into an LLC Series that I'd own 50% of.

[Chris Seveney]

Quote from @Justin Igoe:

Long time lurker on BiggerPockets and very grateful for all the great info I've found here over the years. 

My wife and I are moving out of our current home and going to rent it out. My wife is the only one on that mortgage which is owned by Fannie Mae. We are both on the house deed. I have a Delaware Series LLC which as of now I'm the single member.

If I open a new series 50/50 with my wife and quit claim our house deed into that series would that violate the mortgage or trigger the due on sale clause?

I heard Fannie and Freddie now allow you to transfer their mortgages into LLC's but my concern is that I'm not a borrower on the mortgage and we'd be transferring into an LLC Series that I'd own 50% of.

you would violate the due on sale clause and also provide zero asset protection by transferring a property to a LLC. If the LLC buys an asset, that is where asset protection comes into play, when a LLC is transferred a property for no money transferred and its not arms length, that is pierced as easy as warm butter.