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Updated over 7 years ago on . Most recent reply

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59
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13
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Pradeep Tiwari
  • Bellevue, WA
13
Votes |
59
Posts

Can I and my partner quit claim a property to two separate LLCs?

Pradeep Tiwari
  • Bellevue, WA
Posted

I have many investment properties with separate partners, Now I`m planning to quit claim them to LLC. now here is hard part,

I`m not sure if I can quit my share to my LLC and they can quit claim their share to their own LLC. or there needs to be one LLCs and all parties has to quit claim to this single LLC ?

Could you please guide us on this ?

@Brandon Turner @Tatiana Gershanovich @Tarl Yarber @Troy Fisher @Rudranil @Anup Shah 

thanks !!  

Most Popular Reply

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
14,964
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12,344
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

Short answer is yes you can.

Also using a Quit Claim from you to LLC you own will not interupt a warrantable chain of title. I create and use QC deeds that I create for myself all the time. I only do this for myself to prevent being seen as practicing law. If your not familiar with the process have an attorney do this for you.

  • John Underwood
  • Loading replies...