Transferring Deed to Business After Purchase

[Jessie Griffin]

Howdy - We just purchased our first short-term rental that is in mine and my wife's names. We will be collecting tax and reporting it each month. We want to run everything through our business and found out the government will not accept our tax application if the title on the property is not the business. We need to transfer the deed into the business name. I assume this should this be done with a Warranty Deed and not a Quit Claim Deed so not to cloud the title later on? If so, can we process the warranty deed paperwork ourselves or do you need a lawyer? LegalZoom wants $250+. This seems quite silly since we are just transferring to ourselves essentially with no money exchanged. Any help is greatly appreciated.

[Sammy G.]

@Jessie Griffin yes, use warranty deed to transfer. If there is no mortgage there is zero issues, however if there is a ‘due-on-sale-clause’ may take into affect. If you can write warranty deed ‘correctly’ yourself you don’t need legalzoom or an attorney.