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All Forum Posts by: Andrew Jessup

Andrew Jessup has started 1 posts and replied 1 times.

General Real Estate Investing

Post: Can I Restructure to an LLC Owned by Family Trust

Andrew JessupPosted
  • Posts 1
  • Votes 0

I have a former primary residence I want to convert into a rental. We would like to have the property to an LLC for liability purposes and then have the LLC owned by our Family Trust for Estate Planning purposes. However, I have a Fannie Mae owned mortgage and the mortgage servicer has advised that Fannie Mae may not allow that "double layered" ownership. Does anyone have any experience with this? Were you successful in setting up this structure and keeping the loan without triggering a due on sale clause?

0 Votes
San Diego, California