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Updated over 5 years ago on . Most recent reply
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Quit claiming Deed to LLC
Closing on another duplex soon and would like to know how long you guys wait after closing to quit-claim the deed to an LLC?
Also, do you guys have the mortgage company ACH the mortgage payment from the LLC's bank account?
And if so, won't they see that is an LLC on the account and not the person they lent to?
Or do you guys just have a personal bank that you transfers the rent payments to as a deduction?
The mortgage companies I spoke to say your not allowed to transfer title but most attorneys tell me just to do it. So I am trying to figure out the specifics now.
Most Popular Reply
If Fannie owns the loan (regardless of who Services it), you can freely transfer the property to your own LLC under certain conditions, and you can use a Warranty Deed: How to Transfer Property to your LLC without fearing Due-on-Sale