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?
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
Thanks, Wilson!
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
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