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Updated almost 16 years ago on . Most recent reply

User Stats

147
Posts
7
Votes
Tyler Thrush
  • Residential Real Estate Broker
  • Dana Point, CA
7
Votes |
147
Posts

vesting

Tyler Thrush
  • Residential Real Estate Broker
  • Dana Point, CA
Posted

I currently own three rental properties with two partners and we are trying to figure out the best way to hold title in order to insulate ourselves and to have everything in writing. Two properties are in one persons name, the other is in another persons name, and the third party is not on either.
My Idea is
1. Form LLC
2.Quitclaim all properties to LLC
3. After required seasoning period refinance all properties out of individuals name in the LLC's name

I think the first to step would be all that would be required to insulate ourselves and ensure that we all have equal 1/3 interest in all three properties but wanted to know if we should take step 3 as I am not sure what benefits/detriments it would provide.
Thanks In Advance!

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