GA real estate lawn and LLC law. should transfer rental property to a LLC?

There are a number of issues to consider including asset protection, your financing, any work to be done on the property and tax issues. These are all issues that should be discussed based on your specific situation. there are multiple online sources of information (as you have probably found from a google search) but you need specific information A good accountant and a good attorney are an important part of your business planning. What you pay upfront is generally saved in the long run because of the problems and issues you have avoided.

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You might find problems transferring the property to the LLC if the rental property isn't paid in full. Banks are very wary these days of allowing entities with no credit history to assume mortgages. If your LLC doesn't have significant credit history or collateral, you might find difficulty with the Bank allowing you to transfer the property or they might insist you personally guaranty the loan.

It is not clear what you mean by "personal wealth protection." I am assuming that you mean that YOUR personal wealth would be protected from any claim arising out of the use or occupancy of the rental property. If that is the case, ownership by the LLC of the property MAY shield your assets from claims by, for instance, the tenant; however, there are a number of caveats to this. Even a corporate entity doesn't shield you from liablity arising out of your OWN tortious conduct or even your own negligence. If YOU individually, for instance, go repair the stairs on the house, and they collapse, the tenant may sue YOU for the repair as well as the LLC. The corporate entity is better for protecting you, individually, from corporate obligations (i.e. contractual debt) and the tortious liability of your employees. If you have a loan on the property, your lender may require you to sign a personal guarantee before they will consent to it being transferred into the LLC's name. If you transfer without their consent, this may be a default under the note.

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