looking for an attorney for transferring TN deed to Wyoming LLC

[Charles Chiu]

Hi,

Does anyone know a good attorney in TN I can hire to do a deed transfer into a Wyoming LLC? Also, can it be done without me physically in TN?

Thanks in advance

[Jason Marino]

Hi Charles,

You can use a title company or an attorney for what you are trying to do, and you do not have to be in Tennessee to sign the Warranty Deed. There are a couple of issues with what you are proposing though. First, if you have conventional financing, and it is a residential property, you may be creating a due on sale clause violation by making a property transfer to an LLC. Secondly, you should generally not use a Wyoming LLC to own a property in Tennessee directly without registering the entity in Tennessee as a foreign entity. Owning a Tennessee property directly as an LLC is most likely going to be interpreted as doing business in Tennessee. That said, not registering the entity in Tennessee can result in fines, and, worse, if there is a lawsuit against the LLC, it may be disregarded in Tennessee for the lack of being registered there. I do not know your the context, but these are issues that could possibly come up with your current plan.