How to put real estate in an existing llc?

Amy Hutchens ∙ June 28, 2019

The general process to transfer real estate to an LLC is by using a quitclaim deed or a warranty deed. The deed is signed before a notary public by the owner of the real estate as the Grantor and the legal name of the LLC as the Grantee. The deed is then recorded in the recorder's office of the county where the real estate is located. Every state has different recording statutes so local law to needs to be followed to make sure all of the requirements for deeds are met.

If the property is secured by a mortgage, working the lender to accomplish the transfer is a must. Many mortgages for commercial property contain a due on sale clause that can be triggered when the property is sold or re-titled. Always consult with a licensed attorney in your state before proceeding.

ATTORNEY ADVERTISEMENT. The choice of a lawyer is an important decision and should not be based solely upon advertisements. Amy Hutchens' offices are located in Kansas City, Missouri. Ms. Hutchens is licensed to practice law in the state of Kansas and Missouri and her comments may only apply in those states. If your question applies to a different state you should check with an attorney in that state. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation and any information you provide is not protected by attorney-client privilege.

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Jeffrey Lippman ∙ 2019-06-28T14:07:31-04:00

There are numerous factors to this analysis. However, assuming no liens on the property, a Title is transferred via a new Deed being filed and recorded reflecting the new owner. There may be transfer tax implications. Liens typically need to be dealt with in order to pass clear Title. I recommend you schedule a consultation with your LegalZoom provider law firm. Jeffrey Lippman's offices are located in Leesburg, Virginia. Mr. Lippman is licensed to practice law in the District of Columbia and the state of Maryland, and his comments may only apply to those jurisdictions. If your question applies to a different jurisdiction you should check with an attorney in that jurisdiction. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation and any information you provide is not protected by attorney-client privilege.

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