Two HUD buyers, one owner-occupant

[Anthony Sinigaglio]

Hello everyone, my partner and I are looking to buy our first property. The idea is for both of us to be on the mortgage, but only one of us to live in the house as an owner occupant (it's a HUD home).

1) Is this possible, or do both names on the mortgage need to live in the property for a year? This is in New Jersey.

2) Also, if we were to transfer the property from our names into a future LLC, would we have to wait a certain period of time?

3) I imagine the mortgage be transferred to the LLC as well, yes?

Thanks!