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Updated over 5 years ago,

User Stats

10
Posts
3
Votes
Kate Friedrick
  • Rental Property Investor
  • Raleigh, NC
3
Votes |
10
Posts

Deed Under LLC, Loan Under Personal Name: Who is Loan Payer??

Kate Friedrick
  • Rental Property Investor
  • Raleigh, NC
Posted

[This post is opening a can of worms, I know...] We recently set up a single-member LLC and transferred the deed to our duplex to it. I have been moving all expenses/accounts under the LLC as well. However, the loan is still in our personal names and that won't change unless we re-finance with another financial institution (this credit union doesn't even offer business loans). I'm trying my hardest not to co-mingle any funds, but this one has me stumped! Do I pay the loan/mortgage payment from our LLC business banking account or from our personal banking account? (Seems like both sides could be argued.)

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