Partnership Options

[Matthew G.]

Hello all,

My partner and I have purchased an investment property in Idaho. The mortgage and title will be drafted under his name, however we would both like to have equal share in the property. It seems one option is for us to form an LLC and place the property into that, however we are unsure of the exact process of doing this after the property had been purchased under my investment partner's name. If anyone has experience in this situation or knows of better options, it would be great to get some insight on those, and any associated limitations.

Thanks!