Hi guys! Big fan. First time asking a question.
My wife and I recently moved to a new primary residence. We want to keep our former primary residence as an investment property.
I want to transfer this investment property from our personal names to an LLC for asset protection purposes but have heard this could possibly trigger the “due on sale clause” for our mortgage. We have a very low interest rate so understand banks are exercising this clause more often so they can offload their low interest rate mortgages.
How can we transfer this property to an LLC without triggering this due on sale clause from our mortgage company?
Thanks and keep up the great work!
Chad