All Forum Posts by: Sara Pete

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If you end up having a mortgage on the property, contact your lender. It may not make a difference whether you use a quitclaim deed or a warranty deed in this case, but you should understand your lender’s requirements before you try to transfer title.

When you purchased your property, you most likely received a warranty deed that included a guarantee that the title was good and free of any claims or interests by third parties. A warranty deed passes that guarantee on to your LLC.

If you transfer title through a quitclaim deed, you are simply saying that you are passing any interest you might have in the property to your LLC. The quitclaim deed doesn't guarantee that the title is good, or even that you own the property.

Because of the protection they provide, warranty deeds are typically used to transfer property between unrelated parties. Many people use quitclaim deeds, but some prefer to use a warranty deed because it gives the LLC some remedy if there is a title problem and it preserves the chain of title to the property.

Green Friendly Real Estate has a potential commercial project available, according to their Facebook page. Once you've looked them up, you can private-message them for further details - good luck!