rental property Personal ownership to LLC

[Joshua Bennett]

I have two rental properties, mortgages on both of them, and want to transfer them to their own LLC's. Is there a way to do that and not have the banks call the loans? Does this happen often if at all? How do I avoid that?
Once I have them under LLC's, I want to have their mortgages changed to a commercial loan or some other loan vehicle. What are the options for that?

[Nathan Gesner]

Quote from @Joshua Bennett:

I have two rental properties, mortgages on both of them, and want to transfer them to their own LLC's. Is there a way to do that and not have the banks call the loans? Does this happen often if at all? How do I avoid that?
Once I have them under LLC's, I want to have their mortgages changed to a commercial loan or some other loan vehicle. What are the options for that?

Even though the clause exists, I have never heard of a bank calling the loan due just because you've transferred to an LLC.

Call your lender and explain to them what you want to do. They will confirm that it's acceptable. Then you can transfer the properties using a Quit Claim Deed. I transferred all of mine and it just took a little time (1-2 hours) and a small filing fee for each property.