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Updated over 6 years ago on . Most recent reply

Maurice Walker's profile image
Maurice Walker's profile image
Maurice Walker
  • from Houston, Texas
  • Member since Oct 20, 2015

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Maurice Walker's profile image
Maurice Walker's profile image
Maurice Walker
  • from Houston, Texas
  • Member since Oct 20, 2015
Maurice Walker
  • Houston, TX
4
Votes |
16
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Mortgage Brokers & Lenders

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?

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Dennis Cosgrave's profile image
Dennis Cosgrave's profile image
Dennis Cosgrave
  • Rental Property Investor
  • Member since Jul 5, 2019

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Dennis Cosgrave's profile image
Dennis Cosgrave's profile image
Dennis Cosgrave
  • Rental Property Investor
  • Member since Jul 5, 2019
Dennis Cosgrave
  • Rental Property Investor
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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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