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Updated over 9 years ago on . Most recent reply
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Titling Rentals in Name of LLC
Hello all!
I'm starting to piece together my plan to present to investors. However, I seem to have ran across a bit of a snag. I was recently told that banks will not allow you to refinance a property under the name of an LLC and that it had to be in your name. I heard the same for conventional mortgages as well. However, I want to legal liability protection that an LLC provides for my business, especially as it grows. Is it illegal to re-title properties in the name of the LLC? What are the consequences of doing do if it is legal? How do I protect myself if I cannot title it under an LLC? If re-titling is possible, is it expensive/worth it?
Thank you for all of your help so far! I can't wait to get started and I have no one else to thank but all of you! God bless you all!
I will eagerly await your wisdom and replies. =)