DO they cancel them or do they transfer over?

Without NNN so he transfers more wealth to you?  

--I transferred all of my rainy day cash to the loan to get the balance down.

Some things to consider with the above suggestions of creating an LLC and contributing the property + $100,000.The basis the partnership has in the property is transferred from Person A.If person A's basis in the property is $100,000 but the value is now $200,000.The depreciation would be based on the $100,000 instead of $200,000 which may 'upset' partner B.Furthermore, you have to properly structure it so the IRS does not see it as a 'disguised sale'.A disuised sale can potentially occur when Partner B contributes $100,000 into the partnership and it is immediately transferred to Partner A.best of luck

And I wanna separate business from personal so I wanna get the loan in my llc transfer title to my llc.. 

Make sure at this point, you let the title company know if you want a check or a wire transfer for your profit.

You also can transfer the home into your LLC right after closing.

That doesn't mean it just transfers right over to another property.The tenant's income may have changed or possibly more or fewer family members move along.

Depreciation can't be transferred to another partner, as it is tied to ownership.

Hello BP folks!  My California tenant has initiated his monthly rent payment ($2100) to pull from his Chase account on March 14 through my Avail PM system, but I will not be receiving it until March 19.  This is 2 day...