Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on .
Most recent reply
presented by
Transfer personal residence to LLC?
How difficult is it to transfer a personal residence to an LLC? Is it as simple as signing a quit claim deed?
Most Popular Reply
Brandon Sturgill
Property Manager
Pro Member
- Real Estate Broker
- Columbus, OH
- 1,770
- Votes |
- 3,042
- Posts
@Hen Ley pretty much...but quit claims are not very tight...you always want general warranty...or maybe special warranty. Anyway, there's really no benefit to transferring a personal residence into an LLC...the downside is you trigger the acceleration clause in your mortgage (assuming you have a mortgage)...the bank can call your note balance due if you fail to get permission to transfer title with debt in place.
- Brandon Sturgill
- 614-379-2017
Realize Property Management Group
13 Reviews
3.8 stars