I can get more advantageous rates if i buy my investment property in my name rather then my llc (i will be renting it out). Am i at risk of piercing the corp veil if i buy in my name and then transfer or sell the property to the llc?
Limited Liability Company (LLC) Lawyer
Whether you have the LLC buy a new property, or you buy it, then transfer it to the LLC should make no difference as far as veil piercing goes.
Courts pierce the veil of an LLC or a corporation to prevent an injustice from occurring. They look at the way you have operated the LLC - for example do you commingel funds (pay your personal and household bills out of the LLC account for example). Do you purchase things for your personal use with LLC funds?
Are you protecting the major portion of your net worth inside the LLC and failing to pay personal creditors? THESE are the issues the court will be concerned with, no whether you transferred the property to the LLC after purchasing it yourself.
If you personally purchase the property, listed it on a personal financial statement used to obtain credit, then transferred the property to the LLC, so that your creditor was deceived into thinking you owned the property, THAT might be a basis for a court to pierce the veil of the LLC, or it might also be the basis of a complaint that you had made a fraudulent conveyance to the LLC (a transfer to hinder or delay your creditor in collecting a debt from you).
You should be represented by a Florida attorney in all this, so check my advice with him or her.
Answering your question on AVVO, does not create a lawyer-client relationship between us. I practice in Illinois and not in Florida. You need to talk to an attorney in Florida.
Attorney Hanson provided an excellent answer, I would not be concerned about the individual purchase as a veil piercing risk. I wish the best for the transaction and your business.
This answer is for informational purposes only and is not legal advice regarding your question and does not establish an attorney-client relationship.
Real Estate Attorney
Transferring your property to the LLC after you buy it will not make piercing the veil easier. However, transferring the property without the approval of the lender is a violation of the due on sale clause in your mortgage, which means that your mortgage can be foreclosed. In addition, if you represented in the application for your loan that you will continue to keep the property in your individual name, you may have committed bank fraud. You should have a lawyer experienced in real estate and business law review your documents and discuss ways to accomplish your purposes within the law.
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.