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

[Kate Friedrick]

[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.)

[Russell Brazil]

It would seem like to me that if the property is owned by the LLC, and the mortgage is in your personal name, that seems like that LLC could be pierced in about 2 seconds.