Originally posted by @Peter Milic :
I have a quick question. I want to do a quit claim deed on the properties that I own to move ownership to a LLC, I formed the LLC everything is almost done, but now my attorney tells me that he couldn't record it with the county until I get approval from the Village, which means I might need to pay stamps, do a final water reading, get a village inspection done etc I just wanted to see if you've done this before, is this how it normally works? Basically the process is the same as if I was selling it? Or no? Thank you
If you move ownership of a property to an entity (LLC, Corporation, Partnership,etc) you may be in violation of the Due on Sale clause. That doesn't mean you can't or shouldn't do it, but be aware of what that means. Your attorney can advise you.
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