Legal Question in Real Estate Law in Illinois

Currently have 5 properties within a Kentucky LLC but wish to refi them to more conventional mortgage terms. A mortgage broker has suggested that I quit claim them from the LLC to my name then back to the LLC after financing. I know this is possible but does this not "pierce the corporate veil" in some way? In the event of a lawsuit, I would imagine an attorney could claim that the entity and I are really the same...


Asked on 9/05/13, 7:20 am

1 Answer from Attorneys
Chen Kasher Chen Kasher

Right, this is why a mortgage broker is not a lawyer. Retain qualified Kentucky counsel to advise you on the legal aspects of this transaction.

Disclaimer: I am not your attorney; this is not advice.

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Answered on 9/05/13, 8:36 am


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