Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 13 years ago,

User Stats

24
Posts
5
Votes
Takeshi Yashima
  • Real Estate Investor
  • Alhambra CA
5
Votes |
24
Posts

Transferring the properties from my own name to LLC

Takeshi Yashima
  • Real Estate Investor
  • Alhambra CA
Posted

Hi,

I owned several properties under my name and already transferred several properties from under my own name to LLC via quit claim and all of my mortgages are impounded. Here is the problem. Property tax went up several times in the past. Therefore, monthly mortgage payment with escrow also went up. Since I did not tell banks about transferring the properties from my own name to LLC name, I can't tell them about payment change (If I let them know, they will notice that I move the property under LLC name that leads to trigger Due of Sale Clause).

In this case, what should I do? Is there any way that I can deal with this escrow amount change without letting banks know? I am sure many people are in this situation and I would like to get advise of how to deal with this issue.

Any suggestion are appreciated!!

Loading replies...