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Updated over 3 years ago,
Transferring properties from individual name to LLC...
Hi all,
I've got a handful of properties (9 doors total) in my personal name. I recently created an LLC and am wondering the following:
- Is there any way to avoid the transfer tax (1% seller + 1% buyer = 2% total) if I would transfer the titles from me to my LLC?
- Will the bank call the loan due upon transfer?
- Can I start to use a LLC credit card for easier organization of rental expenses, prior to transferring properties' titles to my LLC?
- Can I accept rental payments for properties that are in my personal name into my LLC specified bank account?
Any information is appreciated.
Thanks in advance!
Jimmy