[quote=UCGal][quote=earlyretirement]Why not just set up a Deleware LLC or a Nevada LLC and then purchase with that…..would kill many birds with one stone. I can’t figure out why more people in California don’t do this for privacy, asset/liability protection? Yeah, there are on-going fees and set up costs but it seems a no brainer but can’t see why more people don’t utilize this in California..am I missing something?[/quote]
When you finance you have to have it in your name – then it gets quick claimed into a trust or LLC. Not sure if you can get a mortgage for an LLC.
Since the mortgage gets recorded – it’s public record… no privacy.[/quote]
I’m actually buying our home with 100% cash. I understand the problems with getting financing with a LLC but I’m not needing to get financing. So I’m planning to set up a Delaware LLC and buying the home under the newly created LLC. Seems to accomplish everything I need.
The only downside seems to be the $1,500 to set it up and the ongoing $250 annual fee to Delaware for the LLC but for privacy and asset protection and liability issues…. it seems to make sense to me.
But I don’t find much information on it. I guess because most people don’t buy their homes with cash?
