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Updated over 5 years ago on . Most recent reply

User Stats

57
Posts
6
Votes
Allen C Herring
  • Valdosta, GA
6
Votes |
57
Posts

Asset protection for primary residential multifamily

Allen C Herring
  • Valdosta, GA
Posted

Hello BP family,

I have a triplex in which I live in one of the units. The other two units are being rented out. I'm utilizing my VA loan and I was told by one mortage lendor that I can quit claim the rented units to my LLC and the other mortgage lendor told me that it is illegal. I wanted to know if anyone had knowledge and know the procedures for asset protection when the multifamily is owner occupied through a VA loan. If it is illegal to quit claim what other ways are available for asset protection in my situation? Thank you for the help in advance BP family!

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