Hi I have a couple of questions.
I am looking at purchasing a home for the purpose of renting it out. My banker suggested that I take out the mortgage in my personal name, and than quit claim it to an LLC for liability protection. He also suggested executing but not recording the quit claim so that the lender would never see it and not call the loan.
My question is, if the quit claim is not recorded am I protected from Liability? The house will be insured, however I would really like to put it in an LLC for extra protection.
Thank you in advance for your thoughts and ideas.