Don't Transfer Property Into an LLC Until You Check THIS

When you're looking to invest in property, one decision you might face is whether to own that property through a limited liability company, or LLC. Understanding the pros and cons of using an LLC can help you make the best choice for your situation.

An LLC is a type of business structure that provides its owners with limited liability protection. This means that if something goes wrong with the property, like a lawsuit from a tenant's injury, the owner's personal assets (like their home or personal bank account) are generally protected. Only the assets within the LLC, like the property itself, would be at risk.

Tiffany Webber is a real estate attorney and owner of Thomas & Webber, a real estate law firm in Mooresville, North Carolina. They handle both commercial and residential real estate closings, estate planning, and business formations.

00:00 - Realtor Question
00:44 - Advantages of LLC
02:02 - Buy Now or Transfer Later?
04:13 - Cautions

[WalterDorcas]

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

[dayoldkobold]

Well, I came here for Ironland but I’ve been looking into LLC’s. This was perfect. Thank you for this information.

[MrGtronx]

what specific document or section of the mortgage statement can I see the Due on transfer clause?

[dudebladeX]

Please assist Ironland.

Interesting video, by the way. Good information to know.

[williamtiffee]

The ONLY WAY you can maintain "anonymity" is by using a Trust. (Because in the age of the internet, anyone can determine what one owns, via the Secretary of State, or equivalent... website.) LLC, etc. entities are NOT going to protect you. Period.

[RaadYacu]

@TheRealEstateLawyer what about if I have a rental that is paid off but its in my wife and my name but would like to transfer the rental to an LLC as a disregarded entity. Is this possible?

[traceyleeherbert]

Great topic. I love your information! I am a broker in Cailforina.

[cometcal]

Summary: establish an LLC before buying a property to put it into. - Collaborate with your lender to have the property's title in the name of the LLC.

[chithrapriya]

Hi, thanks for this info. Looking into an LLC but we are financing, so the mortgage lender doesnt offer loans to LLC's as they claim this is a commercial loan. How complex is it to transfer title to LLC with a mortgage loan? and cost to do so ? (IL )