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Updated about 2 years ago on . Most recent reply

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Edith Scott
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Transfer title to LLC

Edith Scott
Posted

Loancare/Lakeview, which holds my mortgage, is telling me that I have to refinance in order to transfer the title from me as an individual to my new LLC, with me as the sole owner. Two reps have told me it's just their policy.
Has anyone else come across this? What are any workarounds?

Thanks in advance!

Edith

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Tom Gimer
  • DMV
3,417
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Tom Gimer
  • DMV
Replied

Not weighing in on the wisdom of transferring to your LLC, but if you really want to do this simply find a new title company. It's your property and you can do what you want with it. If a transfer to your wholly-owned LLC truly violates the due on sale clause most title companies have a simple release for the borrower to execute confirming they wish to move forward regardless of the consequences.

  • Tom Gimer
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Eastern Title & Settlement
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