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Topic History of: Deed out
Max. showing the last posts - (Last post first)
Author Message
Sumo Yeah, but its my understanding that if you have a vacant pieced of land, you homeowners policy would cover any incidents you may have on the land? What additional protection does an LLC really provide?
Jacob I would have it transfered to an LLC whether it was residential or commerical property so that you protect your personal assets from suits.
Samantha because the mortgage is in the person's name, if you transfer the property then the bank will call the mortgage under the due on sale clause.

so, I'd be careful transferring the property to the LLC. Is it resident or commercial property?
Sumo I have a client that wants to quit claim a piece of property he just bought to an LLC for liability purposes, are there any issues I should consider here? The mortgage is in his name, and the property is a vacant piece of land. Thoughts?
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