Transferring properties to LLC

[Scott Bartlett]

We currently have three properties that we plan on transferring to our LLC. The problem is, we just filed for our LLC here in Ohio with an effective date of 1-1-2015. Does that mean I have to wait till the 1st to transfer our properties to the LLC, or can we transfer the properties as soon as the LLC is processed?

[John Logue]

I would wait also, to keep things legitimate. Make sure your Hazard Insurance carrier knows you are doing this, so they can get the LLC insured. The other thing that very few people warn you about, is that your title insurance may be voided when you transfer title to the LLC. Do some research, and talk to your Title Insurance carrier before you prepare the deeds. I'm not a lawyer, so this shouldn't be construed as legal advice.