Transfer Property to LLC
When transferring a property to an LLC is it better to do a Quit Claim Deed with the County or use a Title Company to transfer?
It’s my understanding that it’s best to inform the mortgage company, but what if I don’t get around to it?
I personally would do it title. Just my 2 cents
I did a simple quit claim deed myself and sent the paperwork to my county. If you are confident in your ability to dig for info and willing go learn, it's not hard.
The deed must follow a very specific format for the recorder. The auditor required different forms such as an attestation regarding your relationship with the LLC, rental property registration, and tax exempt paperwork. All of this is specific to a county, so may not apply to yours, or may even include additional requirements.
A call to the auditor office was also very helpful and they answered a lot of questions and even pointed out some common mistakes for me to avoid.
The safest route is just to have a title company do it. I also cleared this with my loan officer as well, in advance, every time I did this. A quick call to yours should clear it up to be safe.
My lender also said the same thing yesterday about buying a property with cash, applying for the cash-out refi, then using a title company to transfer title to the llc. They do it all the time like that.