Quit Deed or Warranty Deed (2 questions) - timing and differences
Hello.
I have 2 questions actually. Give situation then go from there.
I have a house I am going to be renting out. Currently it is in my name still and everything. I am wanting to make sure I provide myself enough protection. So saw that you can put the property into an LLC by either doing a quit deed or a warranty deed.
question 1: What is the difference? I've seen threads and some basic discussions, but still not 100% sure what there is between the 2 (warranty and quit deed). which do i want to do at the end of the day to be most successful with this property when transferring it into the LLC?
Question 2:
does this need to be done before I have someone sign the lease and move into the house? or can it be done while they are already in there.
thanks!