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Updated over 1 year ago on . Most recent reply

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Naomi Kent
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4
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Transferring my condo to a LLC

Naomi Kent
Posted

I own a condo and it is in my name.

No mortgage, in Florida. LLC is in FL as well.

I want to rent it out and transfer the ownership to my LLC. I have read that I need to get a Warranty Deed. Is it that easy? Would anyone be open to speaking to me about this process? I have been told conflicting advice.

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
9,676
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

What’s the purpose if I may ask? Short of someone hurting themselves in your condo and suing for more than the value of the condo there’s not really any asset protection. There’s not more than a 5 second google search of privacy. You’re adding complexity and costs, now and in the future, especially if you ever want to do a cash out refi. So what’s the upside?

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