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Updated over 9 years ago, 04/23/2015
taking title in name and later quit claiming to LLC
Hi guys,
Has anyone had experience buying an investment property in their personal name, then shortly after closing title, quit claiming into the newly created LLC?
I am looking to buy a 4 family and will have a mortgage on this. My lender won't lend to a newly created LLC. my plan is to take tile in my name and then move it to an LLC via quit claim.
I am aware this can trigger the due on sales clause from the lender but I was wondering there are other things to consider as well, or if there is a better way to do this?
as always thanks in advance!
Chris