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37
Posts
11
Votes
Peter Skobic
  • Lender
  • Watertown, NY
11
Votes |
37
Posts

Quitclaim good or bad?

Peter Skobic
  • Lender
  • Watertown, NY
Posted

I know it's very common to buy a property in your own name and then transfer it into your LLC through a quitclaim deed. But this also means that the title of the property technically changes hands - even though it's your own LLC. So the bank would theoretically have the right to call the loan due since it triggers the due on sale clause. Is this something I should worry about or just assume the bank won't do that?

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