Legal Question in Wills and Trusts in California
I am refinancing income property that is held in my trust as an LLC. The lender will not loan to a LLC so I need to take it out of the LLC. Do I also need to take it out of the trust?
Asked on 8/08/10, 12:54 pm
1 Answer from Attorneys
Ask your lender, but generally they require that, yes. They will, however, pretty much never object to you putting it back in the trust once the refi is completed, as long as you remain the trustee and beneficiary and/or it is a revocable trust.
Answered on 8/14/10, 11:09 am
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