The oil company now owns the subsurface rights to that property (one of the property's appurtenances) and can transfer or keep them as they wish.

Alternatives to ConsiderIf you want to involve an entity for liability protection or other reasons, here are some potential approaches:Assume in Personal Name and Transfer to Entity:Assume the loan in your personal name and later transfer the property title to an entity.Important: Transferring title may violate the loan’s due-on-sale clause unless explicitly allowed by the lender.

Hey Laura,Not sure if you are still looking to partner with a trusted title company in Central PA but we have used Capstone Land Transfer for 100+ transactions and loved the experience.  

I’m sure someone will tell you that you can transfer title of the house after closing, but what purpose would that serve?

Either with cancelling and transfers, or anything in general.

You should always make sure to work with someone boots on the ground who has good relationships with the city so they can make the onboarding process seamless.

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

Transferring mortgaged properties to an LLC may trigger due-on-sale clauses, but transferring to a trust first can mitigate this risk.

Do you want a disgruntled heir contesting the transfer sometime down the line?

An LLC does make sense to protect assets, but will cost some money to set up as you cannot close in an LLC with a VA loan - it would have to be transferred post close.