Posted by kawikaCA on February 23, 2004 at 18:23:44:
Seek professional advice.
Get another lender or do what they say, pretty simple. If you take title then you might consider immediately deeding it into a land trust and making your LLC the beneficiary. You’ll have to find a trustee, not you or relative, and you’ll be in the chain of title but ultimately you won’t own it, your trust will.
How To Close Lender Hoola Hoops - Posted by garth
Posted by garth on February 20, 2004 at 13:22:19:
I have a closing on SFR investment property refinance that
was in my company name.
With refinancing the lender I am using doesn’t want to title property at closing in an LLC.
So I thought I would simply move title to a trust after closing then have trustee of trust be my LLC.
I figure if bank complains about title move into trust I use the Garn act.
Does this maintain my liability protection?
Or is their easier to get around Bank that complains
about putting title in LLC at closing?