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Updated about 2 months ago, 09/23/2024
Converting personal investment property to LLC
Hi Folks,
I bought a property in Harrisburg, PA about a few months back with a conventional loan on my name.
I would want to transfer the property to my single member LLC.
Reached out to an attorney. He mentions that it requires the mortgage to be on the LLC name. If I have to goto the bank, then the mortgage terms are going to change as it would be change personal mortgage to commercial.
Any ideas to avoid going in loops? Thanks in advance.
Regards,
Sri
I bought a property in Harrisburg, PA about a few months back with a conventional loan on my name.
I would want to transfer the property to my single member LLC.
Reached out to an attorney. He mentions that it requires the mortgage to be on the LLC name. If I have to goto the bank, then the mortgage terms are going to change as it would be change personal mortgage to commercial.
Any ideas to avoid going in loops? Thanks in advance.
Regards,
Sri