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Updated 11 months ago, 02/06/2024
Why use quit claim instead of warranty deed to transfer to LLC?
I am looking to transfer title of a few rental properties to an LLC. It seems like investors most commonly use a quit claim deed for this. Why? I would have minimal concern over using a quit claim deed since I know the titles are clear... but why not just do a warranty deed anyways? What is the drawback of using a warranty deed? In my case, in South Carolina, it seems like the cost would be the same, and this is not especially time-sensitive.
So what is the advantage of doing quit claim vs. warranty deed?
I feel like I am missing something... please enlighten me!
Erin