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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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We have 1 vacation rental unit in Scottsdale, AZ. Currently

Customer Question

we have 1 vacation rental unit in Scottsdale, AZ. Currently it is under our name and we have a million dollar umbrella policy. We would like to obtain more rentals however before doing-so, we would really like to put it our 1st unit (and up-coming units) into an LLC, but our bank will not let us. (I guess this is common.) They will however let us put it into a trust. Is there any way to get our rental property/properties better hedged, like through an LLC? HOw could we do that? We like to doubt we'd be sued by guests/tenants, but some starnge characters come through every now and that when we hold them to damage or what-not, they act like their neck hurts from a chair that broke.
Please le us know
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.

Good day. I am Loren, a licnesed attorney, and I look forward to assisting you.

Is it possible to refinance the current mortgage in the name of the LLC and put it in an LLC simultaneously with the refi?

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