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Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
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Sell my personal duplex to my LLC with partners?

Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
Posted Sep 18 2019, 10:10

So, I own a duplex in my name only. I also own other rentals in my LLC with two unrelated partners. What does it take to "fold" (sell?) my individual duplex into the LLC?

Partners pay me 2/3 of equity and we do quit claim? Which could trigger due on sale clause? Our Attorney could write up paperwork. An actual sale, which would require title work and banks and such? I seller finance to LLC? Also could trigger due on sale clause and have closing costs.

Just starting my research so any info/ideas is appreciated. Looking for most inexpensive and easiest way to do this.

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