What I usually do is record it in a land trust and then have the beneficiary be me and then transfer it on paper to your LLC.Good Investing...

Essentially, this proposition allows seniors, victims of natural disasters, and disabled individuals the ability to transfer their property tax basis anywhere in the state.

Sibling transfers are complicated. 

When you sell to your new entity vesting your title insurance is no longer valid, and you owe transfer taxes. 

Putting property in a living trust might not stop tax increase when property transfers to children NOT living in the property.

My understanding is, you can only transfer the tax base value (and not get reassessed) for one family home and not on multiple homes.

Unfortunately with sibling transfers even if the intention is to move into the home it may not be possible with increased property tax reassessment. 

Transfer taxes?

Thanks10 new Development LLC, A new jersey limited liability company.This certifies that Borrower Name1 is a member of the above-named limited liability company and is the owner of Fifty (50) units and is entitled to the full benefits and privileges of such membership, subject to the duties and obligations, as more fully set forth in the Limited Liability Company Operating Agreement.Whereas, Borrower Name1, hereby sells, assigns, and transfers unto Lender Name, successors and/or assigns as their interest may appear his Fifty (50) units Membership Interest in consideration for a loan in the amount of $Amount.00.IN WITNESS WHEREOF, the Limited Liability Company has caused this Certificate to be executed by its duly authorized members this Date 2024.

Should I transfer the downpayment to the LLC account as an owner contribution and then log the income as repayments back to me?