Updated 1 day ago on . Most recent reply
Transferring 3 unit to LLC
Hi all. I'm new to this forum and am looking for some advice. I own a 3 unit building in Chicago and have a family loan so am not worried about dealing with complications for the mortgage. I am transferring the building into an LLC and understand a quitclaim deed is likely the way to go. My questions are the following:
- What complications should I be aware of?
- Is it necessary to get a lawyer to write the quitclaim deed?
Most Popular Reply
I'm transferring two of my duplexes to an LLC using the help of an attorney that helped me on my current property. I haven't run into issues, he's been very helpful in taking care of most everything for me, and it's nice to have the peace of mind that a professional is helping with the process instead of me guessing. Is an attorney needed? No, but better safe than sorry. I paid around $800