Posted on: 07th Aug, 2008 07:19 pm
I would like to know if I have a commercial property in my name and I quit claim it to a coorporation I own ,Does it still show if I ever get sewed as a property they can put a lein on ?Or being owned by a coorporation that takes it off my name personally ?
hi rehgadnet.
welcome to the forum.
you can quitclaim the property to anyone but if this is a mortgaged property then you will have to take permission from the lender before you sign the quitclaim deed. btw the lender can also ask the grantee to refinance the mortgage on his name.
but there is any other liens attached on the property, the lien holder can still claim it even after you quitclaim the property to anyone.
feel free to ask if you have further questions.
best of luck,
larry
welcome to the forum.
you can quitclaim the property to anyone but if this is a mortgaged property then you will have to take permission from the lender before you sign the quitclaim deed. btw the lender can also ask the grantee to refinance the mortgage on his name.
but there is any other liens attached on the property, the lien holder can still claim it even after you quitclaim the property to anyone.
feel free to ask if you have further questions.
best of luck,
larry
If you transfer the propert to a corporation, it will be in the corporation's name, not yours. Therefore, no one who has a judgment against you personally can get the property.
