Legal Question in Real Estate Law in Colorado
Rental Quitclaimed to LLC
Considering quitclaiming a rental property,existing conventional financing - home loan, to an LLC. Can the lender call the loan? How can I minimize the risk of this occuring?
Asked on 3/15/07, 1:45 pm
1 Answer from Attorneys
Robert Murillo
Pivotal Legal Ltd.
Re: Rental Quitclaimed to LLC
Afternoon,
Why are you quit claiming to the LLC? Is the LLC solely owned by you?
You need to review the note and deed of trust and then talk to the lender to clarify if there are problems. It really depends on the terms and the reasons.
Answered on 3/16/07, 5:37 pm
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