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Moving Properties Into An LLC

robinvestor profile photo
  • Saturday, April 10, 2004 @ 03:30 PM EDT
  • 1 Comments

Can someone tell me how to move my properies(w/mortgage in my personal name) to my LLC without activating the "Due on Sale" clause from the bank?

Comments(1)

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    InActive_Account9th April, 2004

    Banks are funny. This should not present a problem- but banks are funny. Perhaps, the more appropriate word would be irrational or bankoid.

    If your LLC elected to be treated as a partnership then transfering title in AND out of the LLC is not a taxable event. Suggestion, transfer title to the LLC. If the bank makes threats, transfer it back out. I don't see that you have much to worry about.

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