Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Victoria Church
1
Votes |
4
Posts

transferring rental to LLC: warranty deed or quitclaim deed?

Victoria Church
Posted

Hi - I am wanting to transfer my rental in Washington State to my new LLC for asset protection. Should I use a quitclaim or warranty deed? There is no lender involved. I have read about the benefits of each but don't understand what is best in my case (https://www.rocketlawyer.com/article/what-is-a-warranty-deed-vs-a-quit-claim-deed-ps.rl). My novice understanding is that a warranty deed seems to offer better title guarantees if in the future I should choose to sell the rental. Is this accurate and will this matter to a future buyer? I also wasn't clear whether a warranty deed could trigger property sales taxes. 

Thank you so much. I am new to this forum.

Most Popular Reply

User Stats

2,465
Posts
3,858
Votes
Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,858
Votes |
2,465
Posts
Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

Quit claim for sure...you were given clear title when you purchased the property in your name.  The Quit Claim allows you to skip redoing the title work when all you're doing is transferring title from you to one of your entities.  There's no benefit in incurring the cost of what a warranty deed requires in a non-sale event.  When you do sell, that's when the title will be updated/liens checked - and a warranty deed issued.  

Loading replies...