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Updated over 5 years ago on . Most recent reply
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Putting Rental Property into LLC Grant - Deed wording
when transferring rental property into LLC the grant deed should say
"grantor and grantee are the same party" to avoid tax reassessment however
any better choice of wording I can use to be more anonymous ? ?
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If the grantor is an individual (or individuals) and the grantee is an entity, they are not the same party.
If the goal is to avoid transfer taxes, research local statutes on exemptions and use the precise language required to fit within the exemption (if one exists).
- Tom Gimer
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Eastern Title & Settlement
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