moving property from personal name into LLC

[Greg Rementer]

Hi Everyone with experience with moving your title into an LLC for corporate protection. Once the title transfer has processed, in terms of switching all the bills into the LLC bank account, do I just move the mortgage, insurance, and all utilities to the LLC bank account? or is there anything I need to be careful of so my mortgage doesn't come to call? Thanks everyone!

[Matt Ziegler]

If you ask your lender, chances are they will deny your request, that has happened to us. If you quit claim the property to your LLC, have your insurance in the LLC name, or as an additional insurer, and continue to pay your bills, the chance of getting the note called is small.

We operate several properties this way. Having said that,good commercial/business insurance is more important than putting the property in a LLC. I think this gives you more asset protection…

Not a lawyer or insurance professional… just saying.