GUY OWNS 2 FAMILY INVESTMENT PROPERTY IN LLC…WANTS TO TRANSFER TITLE FROM LLC TO HIS NAME…IS THERE A CAPITAL GAINS ISSUE IF HE DOES THIS?
no, there is a distribution of LLC assets issue if he does this. why does he think he needs to?
why would he want to expose his personal assets to any liability of the investment property?
let me guess - LLC is in trouble and he wants to get the properties out of the entity? maybe…
but putting them in his own name is just as silly.
As long as the OP is keeping us guessing, I’ll throw my hat into the game.
The individual wants to remove it from the LLC so that he get around the 80% cap and do a cash out refi…
Regards,
Scott Miller