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Updated about 4 years ago on . Most recent reply

David Baskin's profile image
David Baskin's profile image
David Baskin
  • Rental Property Investor
  • from Chicago, IL
  • Member since Nov 29, 2020
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David Baskin's profile image
David Baskin's profile image
David Baskin
  • Rental Property Investor
  • from Chicago, IL
  • Member since Nov 29, 2020
Connect
David Baskin
  • Rental Property Investor
  • Chicago, IL
4
Votes |
9
Posts
Starting Out

Transferring title from jointly owned LLC for individual loan

David Baskin
  • Rental Property Investor
  • Chicago, IL
Posted

My partner and I have a jointly owned LLC under which we currently have one property (3 flat). We have full equity in this property and are looking to refinance shortly.

Is it legal to transfer title from a jointly owned LLC to one partner, for only that partner to take out an individual loan, and then return title to the jointly owned LLC?

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