Updated about 1 year ago on . Most recent reply
Transferring a house into my LLC
Hi I'm new to the Bigger Pockets forum and I had a question. My sister is trying to sell her house but hasn't had any bites. I own an LLC and we've talking about putting it into my LLC to rent it together. She still has a mortgage on it and wasn't sure what steps to take. Is it as simple as signing paper work to transfer it or does she have to legally sell it to my LLC and if so what would we be looking at as far as being taxed on it? Thanks.