How To Put Rental Under LLC

[Kyle Johnson]

I moved out of my old house and turned it into a rental. The deed and loan are under my name but I want to put it under my newly created LLC. What is the process for doing that? My rental is being managed by a PM. Do I need to let them know?

[Mike S.]

Do not use a quit claim deed. Use a warranty (or special warranty deed) instead to avoid risking loosing your title insurance.

Also with your lender you may trigger the due on sale clause. To avoid that, create a land trust where you are the initial beneficiary. Deed the property to the land trust. Then later assign the beneficial interest to the LLC. Don't forget also to change the name insured of your insurances to the land trust with you and the llc as additional insured.