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Tax, SDIRAs & Cost Segregation

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Andrew Laughlin
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Quit claim property to LLC

Andrew Laughlin
Posted Oct 15 2019, 06:34

My parents own a commercial property in Washington state. The property is recorded in their name. My father passed away recently and my mom has asked me to manage the property as a joint owner.

The property has tenants and has no debt. I've setup up an LLC and drafted an Operating Agreement, with my mom and myself as members. My plan is to Quit Claim my mom's interest to the LLC. Since my father's name is recorded on the property as well, is there anything additional that needs done to facilitate the transfer?

The Quit Claim Deed seems fairly straight forward. Am I on the right track here? 

Thanks,

Andrew

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