Yet Another LLC question. Asset protection. personal loan.

[Tyler Gaede]

So, my wife & i purchased a home in Texas. We financed the loan in our names, got a personal loan for a second home/vacation rental.

I want to utilize an LLC for asset protection so that if something happens at the property to the LLC then my personal assets are protected.

Current state:

- i contacted my lender to ensure there wasn't any "due on sale" clause and that transferring the title to my LLC would not be an issue. I was told this over the phone and I'm going to send a follow-up email for confirmation. I don't see any due on sale clause in any of my lending paperwork, but there is a lot of paperwork.

- my title company can add an endorsement on my title insurance for the LLC for a fee

- my home insurance lists my wife & i as the insured. 

- i have a warranty deed prepared by a lawyer to transfer ownership of the property, but i have not filed it with the county clerk yet

- setup a business bank account & credit card

Question:

- Is it required to have the loan in the name of the LLC? I don't believe it is, just confirming. I believe my lender is fine with us changing the title to the LLC but having us on the loan. The payments for the loan will be coming from the bank account of the LLC, but i don't think they care as long as they get the money.

- Do i need to worry about the timing of changing the ownership of the title vs adding the LLC to the insurance policies.