LLC or keep in own name?

[Johnathon Jenkins]

I have a few personal conventional loans on some rental properties under my own name. I would like to put them in an LLC but I believe there is a "due on sale clause" or even transfer which I'm afraid of losing my 4% 30 year loans.

I ended up just getting an umbrella insurance policy to manage some of the liablily risk but when it come to future lending and programs I think it would be benifitial to move them into an LLC but what are the chances I lose my loan structure for transferíng from a personal conventional ownership to an LLC. Maybe wouldn't be in the banks intrest as rate are falling but what about in the environment that we are in when rates are going up. Will the banks come to collect??

Thank you

[Chris Seveney]

Quote from @Johnathon Jenkins:

I have a few personal conventional loans on some rental properties under my own name. I would like to put them in an LLC but I believe there is a "due on sale clause" or even transfer which I'm afraid of losing my 4% 30 year loans.

I ended up just getting an umbrella insurance policy to manage some of the liablily risk but when it come to future lending and programs I think it would be benifitial to move them into an LLC but what are the chances I lose my loan structure for transferíng from a personal conventional ownership to an LLC. Maybe wouldn't be in the banks intrest as rate are falling but what about in the environment that we are in when rates are going up. Will the banks come to collect??

Thank you

banks will not come to collect, but transferring from personal to LLC typical is a false sense of security from liability as in most instances it is not done properly. Keep them in your personal name and with your umbrella policy, i have yet to see anyone on BP ever get sued and lose a property.