Holding properties in your own name?
I am currently holding two investment properties in my own name by getting 100% financing on both. One is a tri-plex the other is a sfr, both currently rented. How do I transfer the properties to another entity( trust,s corp) w/o the possibility of a due on sale clause?
We have been funding these with shareholder loans to a corporation. Our taxes show funding of the property rehab by a corporation but owned by us personally. Tax advisor says this could be a red flag.
Depending upon what state the properties reside, you should only have to fill out a Quit Claim Deed from the individuals to the entity of your choice. Making sure that the entitly is legal and in good status the time of the transfer. Most states have tax exemptions if the transfer is from yourself to your company. Good luck.