Attorney · Springfield, MO · Member since 2016 · 39 posts · 22 votes
5y
@Doug Trumbull Most banks take this issue on a case-by-case basis. They have the leverage here because without their written consent, you can trigger the due on sale clause.
@John Spurlock Thanks John. It seems like I’m going to have to sell them on future business with me and a personal guarantee backed by liquid funds. I'd like to use my LLC to protect my partner's assets (my dad) and make it easier to distribute profits and handle taxes. If it’s too much trouble with lenders I’m just going to hold in my name with a strong insurance policy.