Tax Implications of CA Title Transfer

[Pete Harper]

I have a tax question. I own vacant land in CA and would like to transfer title to my TX LLC. Would CA consider this a taxable event?

My long term plan is to sell the land in CA and do a 1031 exchange into property in TX. Doing the title transfer before the sale would make things easier on the purchasing end. I will likely need financing on TX end of the deal and it will be cleaner getting financing with everything in the LLC name.