Posted on: 15th Jun, 2010 12:04 pm
Hi There.
So here is the jist. I am the assistant to my boss, who is the owner of a building in Brooklyn, NY. He bought the building back in 2006 and both the deed and the mortgage are in his name. Since then, he has established an LLC managing company and would like to change the name on both the deed and the mortgage from his name to his LLC's company name. How should we go about doing this. I was advised by the Department of Finance that I will have to change this with NYC Dept. of Finance Office of the City Register. And is it necessary that we have legal representation to do this? Thanks so much.
Cheers.
Casey Carty
So here is the jist. I am the assistant to my boss, who is the owner of a building in Brooklyn, NY. He bought the building back in 2006 and both the deed and the mortgage are in his name. Since then, he has established an LLC managing company and would like to change the name on both the deed and the mortgage from his name to his LLC's company name. How should we go about doing this. I was advised by the Department of Finance that I will have to change this with NYC Dept. of Finance Office of the City Register. And is it necessary that we have legal representation to do this? Thanks so much.
Cheers.
Casey Carty
hi caseyleighcarty,
your boss can transfer the property to the llc by filling out the quit claim deed. however, as far as the mortgage is concerned, it needs to be refinanced in the name of the llc. it would be better to contact the lender before transferring the property and the loan in the name of the llc and take his opinion in this matter. if the lender has any objections, he will let you know.
thanks
your boss can transfer the property to the llc by filling out the quit claim deed. however, as far as the mortgage is concerned, it needs to be refinanced in the name of the llc. it would be better to contact the lender before transferring the property and the loan in the name of the llc and take his opinion in this matter. if the lender has any objections, he will let you know.
thanks
Thanks for you help.