Transitioning Rental property to an LLC
Do I have to have the property for a certain amount of time to transition out of my name, and into an LLC, are there any penalties ? Is this an easy transition? How long does the process take?
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@Clay Couvillon if you're the sole owner in the LLC, shouldn't be a problem. If there are other owners in the LLC, a Form 107.9 endorsement may be needed to name the additional insured(s) on the title policy.