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Updated over 4 years ago,
Refinancing properties held in an LLC
I have significant equity in a Vacation Rental Property. The property is held in an LLC for tax and liability purposes. I am told by lenders that the only way to access the equity is to switch the property into my name, refinance, and then put it back into the LLC. This seems fishy, and my attorney warns against it as it may lead to potential liability exposure, should I be sued in the future. Any thoughts or advice would be greatly appreciated.
Thanks,
Jeff