Can I transfer mortgage and title to LLC?

[Andy Chen]

Hi all,

I have a triplex with residential loan under my name. I just formed the LLC and plan to transfer the property to the LLC for protection purpose. However, I don't know what to do with the loan.

Couple questions.

(1) Do I need to transfer the loan to the LLC?

(2) Is it going to be commercial loan or residential loan? 

(3) Does transferring the title or mortgage to LLC pierce the corporate veil?

Hopefully it is not too much to ask.

Thanks,

Andy