Unable to move primary residence to LLC

[Kevin Guyden]

Hey everyone!

I am about to move out of my primary residence and turn it into a rental property. My plan was to move the property to an LLC. I just reached out to the mortgage company, and they informed me that I could not move the home into an LLC. They said that the investor(Fannie Mae I believe) wont allow it and it will trigger a due on sale clause.

So my question is for those of you who have rental properties in your personal name, how are you protecting your personal assets in the event that someone wants to sue you for something that has happened on the property?

Thank you in advance

[Bjorn Ahlblad]

@Kevin Guyden it is not as big a deal as some would have you believe. Make sure you have adequate liability insurance. You should always carry more that your net worth.