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Updated over 5 years ago on . Most recent reply

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16
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Maurice Walker
  • Houston, TX
4
Votes |
16
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Transfer Property into LLC

Maurice Walker
  • Houston, TX
Posted

Hi everyone im looking for some help. I want to transfer my rental properties into an LLC, however, I was told it's not allowed for properties that have an FHA loan? Is this true?

If so, is my only option to transfer title to the LLC is to refinance?

Most Popular Reply

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304
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Dennis Cosgrave
  • Rental Property Investor
462
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304
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Dennis Cosgrave
  • Rental Property Investor
Replied

I suggest you carefully review your mortgage documents so see if there any restrictions. Some lenders may have a "due on sale" clause that is triggered with any transfer of ownership. There may also be tax consequences so I would definitely consult your accountant before proceeding. 

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