How Do You Buy Back Your Property Through Your LLC Or Corporation

I just recently refied a duplex as a duplex. Right after that I submitted all the condominium paper work (ie HOA, declarations, etc) and have turned them into two seperate condos to be sold.

If I do not want to wait for them to sell can I buy these back through my LLC or Corporation? Please all input is welcome. Thank You.

Comments(3)

  • lui22nd March, 2006

    Naturally to pull the equity out immediately and for protection purposes

  • finniganps23rd March, 2006

    If you sell them (to your corp.), you will owe taxes on the gain and will owe transfer taxes. I think there are other ways you should look into asset proteciot rather than triggering a sale with all the related taxes.

  • Demarrward16th May, 2007

    actually all you can do is simply, from a mortgage banker propesctive, is do a rate/term refi, no cashout on the properties, and at closing put the LLC onto title.

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