Posted on: 02nd Jul, 2008 11:22 am
Hi,
my husband and I have several rental property's and want to form a LLC.
I was told to use a quitclaim deed to transfer them into the llc. what kinda fee's and would this be the right thing to do?
my husband and I have several rental property's and want to form a LLC.
I was told to use a quitclaim deed to transfer them into the llc. what kinda fee's and would this be the right thing to do?
Yes, use a quitclaim. Your county will charge you a filing fee. You can download the forms for free from the internet.
Hi cassandra.
Welcome to the forum.
you can quitclaim the property to the LLC but if these properties are in mortgage then you need to take permission from the lender before quitclaiming the properties to LLC because the LLC is altogether a different entity. You may need to pay the notary fees and recording fees
Best of luck,
Larry
Welcome to the forum.
you can quitclaim the property to the LLC but if these properties are in mortgage then you need to take permission from the lender before quitclaiming the properties to LLC because the LLC is altogether a different entity. You may need to pay the notary fees and recording fees
Best of luck,
Larry
