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Transferring property from LLC to personal name
I own a single-member LLC that I have been working and reinvesting to for over a year now. I have been thinking about buying my first property under the name of the LLC, since I have more capital in the business than I do on my personal financials.
My question is, if I buy under the LLC (whether in cash or financed) am I able to transfer the ownership of the property from the LLC back to my personal name or my wife's name?
I understand financing/refinancing is more advantageous when property is owned by individuals/residential purposes. I am located in Florida. I know that I should speak with an attorney concerning this but I’d like some general info if anyone can help!