I understand that , although the lender will not approve a transfer of title to an LLC, such a transfer will normally not be problem.
My concern is this. If i do transfer my property to an LLC, and then the LLC attemptes to borrow money from a seperate leneder using the transfered property as collateral etc. will this cause any problems with the property lender?
Thank you
los
chance are the lender is not going to loan the LLC money becuase it has little or no credit history and probably no income. Holding title to a property is not sufficent to get a loan. You will probably still have to co-sign the loan as an individual
Thanks for the reply.
But assuming that the LLC does establish credit and there is incom, wat would the answer be then?
Thanks in advance