I plan on co-owning a rental property. Soon after closing, the plan is to transfer the title to an LLC for some liability protection and our lender has assured us that the due on transfer clause won't take effect. In fact, he says in 18 years of lending he's never seen a due on transfer clause trigger for anyone.
So what are the kinds of things that actually would trigger the due on transfer? Everything I've Googled talks about how rare it is but not what would actually cause it.