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Updated over 1 year ago on . Most recent reply

Spencer Cuello's profile image
Spencer Cuello's profile image
Spencer Cuello
  • Investor
  • from Hoboken, NJ
  • Member since Jan 30, 2022
  • Posts 50
  • Votes 19
  • Experience 3 Yrs
  • Investments 1
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Spencer Cuello's profile image
Spencer Cuello's profile image
Spencer Cuello
  • Investor
  • from Hoboken, NJ
  • Member since Jan 30, 2022
  • Posts 50
  • Votes 19
  • Experience 3 Yrs
  • Investments 1
Connect
Spencer Cuello
  • Investor
  • Hoboken, NJ
19
Votes |
50
Posts
General Real Estate Investing

Quitclaiming a property

Spencer Cuello
  • Investor
  • Hoboken, NJ
Posted

Hello BiggerPockets community!

As a first time investor, it has been near impossible to get a DSCR loan so I have been looking to conventional financing. I want to quitclaim the property into my LLC and my lender and I are on the same page. Does anyone have experience doing this in Texas? Is there anything important to note while thinking about this strategy? Thanks!

Dallas, Texas
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Philip Traynor's profile image
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Philip Traynor
  • Attorney
  • from Dallas, TX
  • Member since Feb 26, 2018
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Philip Traynor's profile image
Philip Traynor's profile image
Philip Traynor
  • Attorney
  • from Dallas, TX
  • Member since Feb 26, 2018
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Philip Traynor
  • Attorney
  • Dallas, TX
40
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43
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Philip Traynor
  • Attorney
  • Dallas, TX
Replied

Quit Claim Deeds do not transfer ownership interests in property in Texas.  You need a Special Warranty Deed.  

3 Votes
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