Selling LLC to sell House - What Complications?

[Natalie Schanne]

I'm thinking about buying a quadplex in an LLC, operating it for a couple months and selling it to another landlord. (Or maybe an owner occupant buyer).

Has anyone bought a (tenant occupied) house in a new LLC and then sold the LLC to another landlord?

Are there issues with additional state realty transfer taxes due?

What about title? Will owner’s title policy convey? (Since deed isn’t changing?)

Do we need to consult lawyers about “securities” like selling the controlling interest in a business?

Is it better to do something in a trust and change the trustee/beneficiary?

or just close twice, selling it from my llc to their llc?

Do any investor loans convey from one llc owner to another, if the llc stays the same?

The goal is to minimize unnecessary transfer costs while providing a great property to the final owner. I may do some rehab and/or raise rents. I am assuming the buyer is paying cash and refinances later as the owner.

In the past when I’ve rehabbed a property, I’ve bought with cash with owners title insurance, and sold with the new investor or owner taking title in their new name, usually with financing.

Thanks!