#421 "Tax and Legal Planning: Debunking FAQs and Misconceptions"
Main Street Business
00:00
The Importance of Transferring Properties to LLCs
A lot of people get caught up and say, Matt, I want to transfer my properties to an LLC or to my trust for estate planning. But I have a mortgage on there. And I was told that if you transfer the property, the bank can execute on the do on sale clause and effectively foreclose and take the property back. We've just never seen it practically be an issue. So don't stress about it. Just get the property transfer over the LLC. Do not get caught up on the Duance cell clause. Love it.
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