Transfer Property to Corporation

General Real Estate Investing
1

I want to transfer my duplex from my name to my LLC due to tax and liability purposes. How should I go about this? Will I have to pay taxes on the transfer?

2

I am not sure about how it is done in Pennsylvania, but in Texas, you just have a lawyer draw up a deed. Cost is about $150.

Wilson

3

Thanks, Wilson!

4

Howdy: t-iac

You can also go to local bookstore and get a blank deed and fill out and get notarized and file original at the county courthouse. Cost abot $10.00

Hope this helps

5

Or go to a law library and ask for a “form book” that will have Texas deeds in it - cost: 10 cents for the photocopy. If there’s a loan on the property, the bank may sqawk some, but I’ve yet to see one actually forclose on such a Due on Sale violation, as long as the payments are current.

John Hyre