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Updated over 6 years ago, 08/28/2018
Transfer ownership to an LLC
I bought a duplex in my name and wish to transfer it to the LLC I just created. It is located in Luzerne County, PA.
A more seasoned investor (form outside this area) told me to quit claim the property from myself to my LLC. Simple as going to the courthouse and do a "form and a fee". What I want to know -- and cannot find out -- is this. If I transfer ownership from myself to my LLC, do I also have to pay the real estate transfer tax? Some people tell me "no" and no one has been able to tell me "yes".
Has anyone in here had a similar circumstance? Thank you in advance.
GG