Yes. If a property owner wants to use an LLC to list a property, they can do so by listing the LLC on the property’s title.
What are the tax implications of switching ownership of my property from me to my LLC?
According to the IRS:
A Limited Liability Company (LLC) is an entity created by state statute. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC either as a corporation, partnership, or as part of the owner’s tax return (a “disregarded entity”).
Owner of Single-Member LLC
If a single-member LLC does not elect to be treated as a corporation, the LLC is a “disregarded entity.” It should reflect the LLC’s activities on its owner’s federal tax return. If the owner is an individual, the activities of the LLC will generally be reflected on Form 1040 or 1040-SR Schedule C, E, or F
Read full details from the IRS here
How does the use of an LLC affect my mortgage?
As of Sept 2020, owners may quitclaim some mortgages owned by Freddie Mac and Fannie Mae into an LLC without it adversely affecting your mortgage and without notice. For full details, see section D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (09/09/2020).
Search for your address in tools provided by Freddie Mac and Fannie Mae.
NOTE: Invown does not offer legal, tax, or investment advice. Consult with an attorney or accountant before any decision to ensure you are aware of all possible scenarios, including, but not limited to, the complete loss of your asset or investment.