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"Due on Sale" or "Due on Transfer" clauses to give lenders the option to accelerate the loans. Often people transfer to an LLC and never notify the bank and continue to make payments and the bank takes no action. This is risky however, as the lender could call the loan due.
The safest course of action is to notify the lender of the desire to transfer the property into an LLC. Most of the time, the banks/lender will not care because while the deeded owner changes name (individual to LLC) the underlying mortgage obligation remains in the name of the individuals.
Transferring property to an LLC which have the same members as the deeded owners is a exemption for tax purposes.
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