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Updated almost 4 years ago on . Most recent reply

User Stats

118
Posts
46
Votes
Rick Turman
  • Flipper/Rehabber
  • findlay, OH
46
Votes |
118
Posts

Quit Claim Guidance From LLC to Personal

Rick Turman
  • Flipper/Rehabber
  • findlay, OH
Posted

I am looking to Quit Claim a duplex to me personally that is currently owned in my business name and has a Commercial loan against it. My intentions were to complete the BRRRR with a Construction Loan in the Business name, then Quit Claim to me personally. My new lender will not allow the Cash out Refi unless it's in my personal name. I've already spoken to my Lawyer on filling out the proper paperwork, but his responses have been very minimal.

Aside from this, I'm hearing from others that it is just as easy to complete the Quit Claim on your own, have a Notary's seal of approval, and record it with the city.  

I am looking for any and all guidance to complete this on my own.  I reside in Ohio as i'm sure locality is key.  Thanks!

  • Rick Turman
  • Loading replies...