My home is a 2 family. I also have another investment property which is 3 family. I have been thinking of transferring their deeds over to a trust which i will operate. Is this expensive to do? Are there any tax advantages to not owning my houses? Are there disadvantages? How can I find out this issue?
You should consult with a local estates / tax attorney.
Why a trust instead of a corporation or LLC?
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3 lawyers agree
I agree with Mr. Millar. You should consult with a trusts and estate attorney. Good luck.
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Wills and Living Wills Lawyer
Agree. COnsult with an estate planning and tax attorney. Trying to get advice off the web for something of this complexity is a bad idea. It is not unusual for mortgage companies to insist that mortgaged property in RLTs be removed from the RLT before refinancing.