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Updated about 4 years ago on . Most recent reply

User Stats

49
Posts
25
Votes
Benjamin Sussman
  • Realtor
  • San Diego
25
Votes |
49
Posts

Buying a property using my parents

Benjamin Sussman
  • Realtor
  • San Diego
Posted

Hi,

Once I hit my limit of having 4 traditional mortgages, can I give my parent the money to have them buy a property under their name and then have them transfer the property into my LLC?

Would they still be responsible for the mortgage and tax payments once in my LLC?

Are there any legal or tax issues that this could cause for my parents?

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