Texas LLC Formation/Relocation Question

[Junior Soares]

Hey BP, So we're planning to relocate to Austin, TX right before our daughter starts school in a couple of years. We are currently placing offers on homes in the area and should complete our purchase before the end of Q1 2019. My question is, since we will be renting it for a few years before we actually relocate, would it be easy to put it in an LLC, which will be owned by my Nevada LLC which holds our other properties and then remove it from the LLC when we actually owner occupy the home? I'm not sure on how astringent the removal process would be. Or........... Would a better idea be to keep the property in our name and insure the property with a decent G/L insurance worth twice the value of the home as an umbrella safe net? Any and all help/advice would be greatly appreciated! Best, Junior

[Jerel Ehlert]

Like most people said, to convey title to an LLC is done with a deed. Each county charges a different fee. Travis County is $26 for the 1st page, $4 for each additional.  Deeds are 1-3 pages.  You can either record it yourself or have an attorney doe it for you.  I surcharge $50 for the staff time. According to Danny's estimate, I don't charge enough, but each lawyer will be different.

If you put property in a foreign (non-Texas) LLC, you should register it with the TX SoS. If not, it will be unable to bring any suit (including an eviction suit) in Texas. It can still buy, hold, and sell property, and it could still defend against a suit, but would be prohibited from bring its own claims.