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Tax, SDIRAs & Cost Segregation

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Tobey Porter
  • Investor
  • Huntingtown, MD
41
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97
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Quit deed claim

Tobey Porter
  • Investor
  • Huntingtown, MD
Posted Jun 13 2016, 08:53

We recently purchased our first 2 investment properties. I'm trying to get the properties switched from our names to our LLC's name. I know I have to do a quit deed claim and have that ready to file with the appropriate entity. My question in about the mortgage. I understand the point in the LLC is to provide some asset protection. If I file a quit deed form with the county, do we need to do anything with the mortgage, i.e. get it transferred to our LLC as well (I know many banks aren't keen on this, which is why we had to close on the properties under our names).

Thanks in advance for any advice.

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