Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Personal to entity property ownership
I am in the process of acquiring a property in Texas and the loan will be under my name and my wife's name. I wanted to take out a loan under my entity but because the entity doesn't have any credit history it will not get approved.
Question- how can an entity (Corp or LLC) become the legal owner of a property if the loan is under my name and my wife's name? Is ownership based on the parties responsible for the loan or property ownership can be transferred by a deed from an individual to an entity?
I ask this because I wanted to protect ourselves since this will be a rental property.
Thank you.