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Pennsylvania Real Estate Q&A Discussion Forum
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Updated over 6 years ago, 08/28/2018

User Stats

3
Posts
1
Votes
George Gallagher
  • Monroe County, PA (the Poconos)
1
Votes |
3
Posts

Transfer ownership to an LLC

George Gallagher
  • Monroe County, PA (the Poconos)
Posted

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

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