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Rental property question - transfer into LLC
Posted on 12/21/11 at 3:16 pm
Posted on 12/21/11 at 3:16 pm
If someone has rental properties that they want to transfer to separate LLCs that are already created, and there are no mortgages involved, how should they do that? Donate the property to the LLC, or create a purchase?
This post was edited on 12/21/11 at 3:17 pm
1
Posted on 12/21/11 at 4:31 pm to givemeabeer
Quit Claim
Posted on 12/21/11 at 10:18 pm to StrangeBrew
quote:
Message Posted by StrangeBrew Quit Claim
Depending on where you are, a quitclaim will not transfer title. It's used to clear a cloud in title, or an ambiguous transfer.
I would use a Capital Contribution or a Warranty Deed from you to the LLC. Should be a simple transfer.
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