May 16, 2008, 2:32 pm
Bank approval to bring properties under an LLC
Andreas wants to move three properties to an LLC. Have you recently transferred properties into your business? What procedure did you follow? Fill us in.
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You can transfer the properties in the LLC by using a trust. The LLC will own the property and you will still be on the loan. You will be the beneficiary of the trust. This will not cause the bank to call the loan due, because it is not a sale to the LLC.