Closed on a cash property. It is currently on my name but want to move it to a LLC

[Raza Rizvi]

I currently purchased a property (cash). The tiltle is in my name. What is the easiest way to transfer it to my LLC. I should have done this before closing but with everything going on & my lack of experience I slipped.

Please let me know. BTW this forum ROCKS!!
Thanks

[J Scott]

While a quit claim will certainly handle the legal aspects of the deed transfer, it may not be the best legal vehicle by which to convey title and it also doesn't address the accounting implications of transferring the property from your personal name to a business entity. Depending on the valuation when you purchased and when you transferred, there could be some tax implications of just quit claiming the property to your entity.

I would recommend talking to both an attorney and a CPA to ensure that you're covered, both from a legal and from an accounting/tax perspective.