Legal Question in Real Estate Law in New York

My father in law wants to remove himself from the deed of the property. He wants my wife to refinance the mortgage and put it under our llc. Can this be done?

Asked on 6/07/13, 5:01 pm

1 Answer from Attorneys

Philip Katz Fink & Katz, PLLC

I'm not sure if you're asking whether or not your wife's LLC can take a loan out, or whether the LLC can take title and your wife can personally secure the loan. Assuming that you are talking about the latter, It is certainly possible, however, I would expect any bank that would okay such a financing arrangement would require BOTH your wife and the LLC to sign all loan documents.

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Answered on 7/09/13, 8:05 am

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