[quote=4plexowner]I purchased as individual and then transferred property into LLC
There might be language in the mortgage that lets the bank foreclose over a title transfer but how likely is it?
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Thanks. I’ve heard a few examples of folks just recording the transfer without bothering to tell the lender. The lender still has their deed so it seems to me they wouldn’t care much. There does seem to be some risk of creating an administrative hassle if they do act upon it.
And yes, the LLC is for legitimate purposes. I’m not really the crafty type.
Do you know if your mortgage had a “due on sale” clause when you transferred?
