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Updated over 1 year ago,
Transfer property into LLC but not mortgage
Hey everyone, first post here.
We currently own 3 properties in Philadelphia. However, the first 3 were bought in our personal name (Mortgage and Title) and we are looking to transfer the title to an LLC. My main question is, will that give us protection from lawsuits incase someone gets hurt on the property?
The mortgage in our personal name which is fine, however it is the liability that we're trying to avoid. Will this move cover that?
Thanks