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What does the phrase "Transfer by Device" mean? This is a…

Customer Question
What does the phrase...

What does the phrase "Transfer by Device" mean? This is a phrase in a Real estate mortgage regarding when I do not need permission from the bank to transfer ownership. But I don't know what "Transfer by Device" means.

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

In Wisconsin.

Lawyer's Assistant: Has anything been filed or reported?

No. This is a mortgage on investment property

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I originated the Mortgage in my own name... then years later, changed the title of the property into a LLC. Now the bank is claiming I did this without their permission, and they are threatening to call the mortgage.

Submitted: 4 months ago.Category: Legal
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Answered in 1 minute by:
12/9/2017
Lawyer: INFOLAWYER, Attorney replied 4 months ago
INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 60,877
Experience: Licensed attorney helping individuals and businesses
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Greetings! I am a legal expert on the site and am working on your question.
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
There is a concept called transfer b devise
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
This refers to a transfer by will or other testamentary transfer.Please let me know if the reply is acceptable by responding “yes” or “acceptable”
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Customer reply replied 4 months ago
Does that include transfer into a LLC? I am the sole member in the LLC
Lawyer: INFOLAWYER, Attorney replied 4 months ago
it can encompass such transfers too.
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
Good luck!
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
Please let me know if the reply is acceptable by responding “yes” or “acceptable”Please select the 5 star (*****) rating on your page for the answer. Happy Holidays!
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
Awaiting your reply, thank you!
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Lawyer: INFOLAWYER, Attorney replied 4 months ago
Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as experts are not employees of the site and do not get any credit for spending time with customers unless they leave positive feedback. Thank you.
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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