Transferring Property from LLC to Personal Name

Hello All,

I need to transfer a rental property owned by single member llc (s-corp) (kansas) into our personal name.

a) Will a simple 1-2 page notarized Quit Claim Deed be sufficient that I can record with the county clerk?

b) this is to get a 30 yr mortage thru our bank that has told us that it is requirement of the FNMA / Secondary Market that the property should be in our personal name for atleast 6 months … any way to bypass this requirement??

c) anybody has a sample Quit Claim Deed they can share? Thanks.

Any issues later when selling the property / titlework etc.?

Thanks in advance, S.

Yes

Don’t use an FNMA lender.

Just copy the deed that was used to transfer the property when you purchased it.

The quit claim will void your title insurance.