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Updated over 5 years ago,
Can A spouse Buy From an LLC
Hi. So. I purchased a home using an LLC in November of 2018 Using a Hard Money Lender with a 1 year term. We have put the Market on the House and it is not selling as fast as we would like and we are afraid that the market may have taken a Small dip for the summer months and would like to stop the money we are spending on the Expensive Hard Money Financing. We would like to take it off the market and refinance it for My self and My new Spouse to live in as well as pull out the Equity we have put into the house to start another Project. Here is where it gets tricky. Because it is in the LLC I cannot refinance it into my personal name since it has not been in my name for 6 months. However I was wondering if it is possible for my LLC to Sell the home to my wife (who I married in May 2019) and have me on it as a cosigner? We Live in the State Of Ohio.
Any Advice or help would be appreciated.