I have a property that is in my personal name, did the rehab via contractors, etc… Created an LLC, checking account, escrow. I’ve started paying mortgage and all bills out of the LLC.
We have a purchase agreement on the property now, set to close middle of this month. My question is:
We just got a tenent in the property. Should I quitclaim the property to the LLC for protection while the property is still in my posession, before the sale. Will this mess up the title work that is going on right now? Will this even protect me if the tenent breaks his leg and decides to sue me in the next few weeks, etc…
What would you do in this situation? And what should I do for future properties?