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Updated over 9 years ago, 04/23/2015

User Stats

838
Posts
295
Votes
Chris Masons
  • Investor
  • Union, NJ
295
Votes |
838
Posts

taking title in name and later quit claiming to LLC

Chris Masons
  • Investor
  • Union, NJ
Posted

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

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