Changing deed in to LLC name

[Peach]

What is the name of your state? New York

I currently own the house that I live in in New York. The deed is in mine and my husband's names. We will be moving to another state and we will be renting the NY house out. We want to change the ownership of this house from us personally to our LLC. How do I go about making this change on the deed? Does it have any effect on the mortgage or does that just stay in our names? (we are the only 2 members in the LLC) Thanks!

 

[tranquility]

This is considered a sale and a bank can (and should) call the loan. You will also lose the right to your 121 exemption if you later sell the house.