Transfer of Rental property to an LLC -Any Gotchas?

[Suresh Jersian]

Hello experts, 

This is my first ever post on this forum, this forum has helped me a lot getting clarity on rental investments. This time am looking to create LLC and transfer the deed to LLC instead of my name.

I got email confirmation from my lender that this will not invoke due on sale clause 

Am looking to form individual LLCs for each of my investment properties

Are there any gotchas that i need to be aware of? How the taxation will change after moving to LLC? Any legal clauses to be included in the business terms?

Appreciate your expert views and opinions

[Nathan Gesner]

It's a simple process. Transfer the deed using a Quit Claim. Open a bank account under the LLC. Learn how to use the LLC properly or it loses the protection value.