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Updated almost 4 years ago on . Most recent reply

User Stats

20
Posts
3
Votes
Jimmy Jefferson
  • Rental Property Investor
  • Doylestown, PA
3
Votes |
20
Posts

Transferring properties from individual name to LLC...

Jimmy Jefferson
  • Rental Property Investor
  • Doylestown, PA
Posted

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

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