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Updated over 7 years ago,

User Stats

39
Posts
13
Votes
Paul Passafiume
  • Prospect, KY
13
Votes |
39
Posts

Transferring from personal ownership to LLC

Paul Passafiume
  • Prospect, KY
Posted

Investors,

Please help me. I am buying a multiplex in Louisville, KY. My bank wants me to buy it in my personal name since this allows me to get better (secondary market) rates. 

I have a KY LLC. I prefer all my properties stay in it due to liability (plus a I pay lots of annual fees on the LLC)

Has anyone bought a property in their name, then transferred it to their sole member LLC via Quitclaim Deed? Is this process easy? Any risk? How much will an attorney charge to do this, and what are the doc stamp/recording fees generally?

Thanks so much!

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