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Updated about 2 years ago on . Most recent reply

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Andrew Steinhaus
  • New to Real Estate
  • Lake Orion, MI
9
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20
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Q's Transferring a property into a Land Trust, to be held by LLC

Andrew Steinhaus
  • New to Real Estate
  • Lake Orion, MI
Posted

Hello all, 

First timer here. If post is on wrong forum, please direct to correct one! 

I have a SFR on Oahu that I would like to place under my LLC. The property is under VA loan and I do not want to trigger the due on sale clause by changing title holder. I was told that I can place the property in a land trust that would ultimately be held by my LLC. If someone could shed a little light on having done this or how to go about it, please share. Any resources or info is greatly appreciated. Thanks!

Drew

Most Popular Reply

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59
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77
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Olia Fogel
  • Attorney
  • New York
77
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59
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Olia Fogel
  • Attorney
  • New York
Replied

Hi Andrew,

First you'll create an anonymous land trust (this should be drafted by an attorney) and transfer the property into the land trust. Then you'll make your LLC a beneficiary of the land trust. Not only will a land trust help you avoid triggering the due on sale, but it also helps with transfer taxes and keeping your real estate holdings private.

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