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Updated over 5 years ago,
Quit claim deed from family member
So about a year ago I found a house for a buy and hold but my sister decided to purchase this house to start her real estate investments. The house is a cash flowing property. I helped my sister out through out the entire process. Now fast forward a year and she has decided real estate is not for her. The property is still cash flowing but she no longer wants to deal with the hassle of it. Luckily I have been following this house for the last year helping my sister. We also share the same property manager so she has been keeping me up to date on my sister property.
We have discussed the option of a quitclaim deed for me to take over the property immediately and then file for mortgage right after under my LLC.
This will be my first quitclaim deed. Has anyone dealt with quitclaim deeds with family members? Any advice on quitclaim deeds?