Posted on: 23rd Aug, 2009 07:18 am
Hi,
I have an LLC-holding company- that I was wanting to transfer my home into for estate planning purposes. Can I do this without alarming my mortgage company? I will still pay the mortgage as normal on time and this is the only reason I am doing it. Is it legal to do it this way? Is there anything I need to know before I proceed with a quitclaim deed? If I had to can I reverse the quitclaim deed if I need to put it back to my name only?
Thanks
I have an LLC-holding company- that I was wanting to transfer my home into for estate planning purposes. Can I do this without alarming my mortgage company? I will still pay the mortgage as normal on time and this is the only reason I am doing it. Is it legal to do it this way? Is there anything I need to know before I proceed with a quitclaim deed? If I had to can I reverse the quitclaim deed if I need to put it back to my name only?
Thanks
Hi mdean,
You can transfer your property into an LLC with the help of a quitclaim deed however, you should inform your lender about this transfer of the property. As far as reversing the deed is concerned, you can definitely do it whenever you feel like transferring the property back into your name.
Thanks
You can transfer your property into an LLC with the help of a quitclaim deed however, you should inform your lender about this transfer of the property. As far as reversing the deed is concerned, you can definitely do it whenever you feel like transferring the property back into your name.
Thanks