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Updated about 8 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Brent Roberts
  • Brooklyn, NY
1
Votes |
4
Posts

Paying transfer tax twice when xfering into an LLC at closing

Brent Roberts
  • Brooklyn, NY
Posted

Hi

My partners and I are looking at an investment property that has a 4% xfer tax to be split by the buyer and seller. We are going to do a quit claim deed and move the property to a LLC after close (aware of DOS clauses). My question is, after we move the deed to the LLC, would we have to pay the transfer tax AGAIN?

Thanks

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