apexrental
Junior Member
What is the name of your state? NC
we have a llc(partnership). we bought two town homes in member/manager's names since mortgage payment when bought on llc name was too high. we came to know that if we did quite claim to transfer ownership to llc bank might close the loan.
we heard that if we mention in operating agreement or (amendment to operating aggreement) that llc owns it , it will help us protect personal property from llc incase some one sues llc. Is it true?
we know that mortage will still be in members names and llc is currenly making payments for mortgage and llc collects the rent. are we doing this right way? please let me know.
Thanks for your time
we have a llc(partnership). we bought two town homes in member/manager's names since mortgage payment when bought on llc name was too high. we came to know that if we did quite claim to transfer ownership to llc bank might close the loan.
we heard that if we mention in operating agreement or (amendment to operating aggreement) that llc owns it , it will help us protect personal property from llc incase some one sues llc. Is it true?
we know that mortage will still be in members names and llc is currenly making payments for mortgage and llc collects the rent. are we doing this right way? please let me know.
Thanks for your time