Updated almost 3 years ago on . Most recent reply
Quitclaim deed question
Can you Quitclaim deed a property from one LLC to another In Nevada? (or most states )
If so what is the best way to handle the tax implication? What interest or taxes would i have to pay for something like that ?
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@Jeff Matthews if you the sales price is based on the basis of the property their should be no capital gains tax. What @Chris Seveney was refering to would be transfer taxes but that is a small tax and a monor consideration.
A bigger concern is loss of tile insurance and other legal considerations like any attached debt to the property. Why would you want to do this? What ae you trying to acheive? Whay do you want to use a quit claim deed?