My business partner and I are trying to start a local real estate investment company. We sent in our paperwork to the State to form the LLC. We have been talking to banks and determined that banks will not give out a mortgage in the LLC's name; instead, the mortgage will need to be in my own name.
We've researched ways to transfer the mortgage to the LLC, and it seems as if the only transfer that we can make to the LLC is a Quit Claim Deed or Warranty Deed. However, based on what I am reading now, most mortgage documents have a 'due on transfer' clause that the mortgagor agreed to at the time of the signing of the mortgage and the bank must be notified of any transfer in interest or the mortgagor will be in breach.
How can we transfer title to the LLC without the mortgage being due?