Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Quitclaim to LLC
I am getting close to closing a deal on a duplex. When I approached the lender I am using, I indicated that I wanted the loan through my LLC, he said that I could just quitclaim it to the LLC after it closed and the mortgage was recorded. I asked him about the due on sale clause, and he said that preventing such a transfer wasn't the purpose of the clause. My instinct tells me not to try to quitclaim it, despite his statement. So, would you quitclaim it to the LLC, or keep it in your personal name? If I do quitclaim it, and the mortgage company calls the loan, will I have an opportunity to quitclaim it back to my name?