Moving Title from Personal to LLC

[Stylianos Kalamaras]

Hi,

I acquired my first property last July in Cincinnati Ohio.I am no longer living at the address, and was planning to refi. It's a two family property that is fully occupied. I would like to transfer the title to an LLC since I own other property as well. How do you go about transferring the ownership to an LLC. Should this be done before the refi, after? Does it matter? Not sure how to move forward...

[Dan M.]

The only way I know how to do this is you would have to sell the property to your LLC and record it on the deed and close out the mortgage in your name and transfer the new one with the LLC funding. Obviously there would be closing costs with this. Speak to the bank doing the refinance, though they likely will charge you more in interest because it is in an LLC and you no longer live there.