Transfer Taxes 10. 

They can't transfer deed to you because they haven't satisfied their note.

After that, the house ownership is transferred over to me.

But might help others avoid this pitfall…when a mortgage is transferred between banks, I’m learning they don’t record a lien release with the county. 

Quote from @Chas Lumley: Hey all,I'm looking to make an offer on my first rental this week and was wanting to get different inputs on LLC vs Umbrella policies.I will be using a conventional loan and I was told by my loan officer that I can not buy the property under an LLC, but I could transfer to an LLC after acquiring. 

If you go through with the purchase make sure that the security deposits are transferred over to you at closing!

I planned to recommend getting the deal under an assignable contract and if you can't make the financing work try to find an investor to transfer it to for a one-time profit. 

Theoretically, at least.Since the U.S. courts routinely find these foreign asset protection trusts to be a sham, and transfers to these trusts fraudulent transfers, the assets in the trust themselves need to be beyond the reach of the U.S. courts system.

The due-on-sale clause technically allows the lender to call the loan due if you transfer to an LLC, but enforcement varies.

Since the property is under mortgage, just transferring to LLC will most likely trigger the "due on sale clause".3.