How do I place a current rental property under my LLC?

[Tristyn Brown]

I started as an accidental landlord when my house wouldn't sell. I had a learning curve with the first tenants and now have a steady tenant. This house is in my husband's name but the LLC is in my name. What is the best way to move the house under my LLC? Can this be done?

I'm a newbie and would love any help/suggestions. 

Thanks! 

[Curt Davis]

There are a few ways to do this. The most legal way would be to sell the home to your LLC but finding a bank to finance for your LLC is almost impossible. You can do what most people do and that is to quit claim the home into the LLC but this does not relieve your husband from the true ownership. You run a small risk of the lender finding out and calling the loan due. I am guessing you want to do this for asset protection. In reality all you need to do is get an additional umbrella insurance policy.

Good luck