Transfer of Title/Deed

[Franklin Navarro]

Greetings everyone.

Not sur if this is the right place to post this, but here it goes.

I am in the process of buying a second home. My existing current home will be rented out. I am in the process of creating an LLC and would like to know what the process to transfer the title or deed to the LLC is like? Is this something that I can do on my own? should an attorney look into it? The purpose of the transfer is for asset protection, my current home was always going to be a rental.

Regards,

-Frank. 

[Diego A.]

Hi @Franklin Navarro

I am not an attorney, but transferring the title to an LLC is a simple thing to do. You have to have a Deed written by yourself or a lawyer and record it into the County.

The main things to consider is the loan and insurance, those could be affected if you are transferring to an LLC.

It is alsways recommended to wait a year before is done and then talk with the lender that owns your loan to know the requirements and process.

For insurance, there are some insurance companies that won't accept an LLC so it will cancel it immediatelly so be careful and do your due dillingece before hand.