#1 No Quit Claims, Special Warranty deed instead #2 Identical Names on transfer, IDENTICAL #3 Use legal description contained in original deed #4 Address for property tax statements, either PO Box or Mail Forwarding.
Question! We own an LLC that will be used for our real estate portfolio. The property itself is in our personal names. However when we decide to build on this property wouldn't we use a Quitclaim deed to then transfer the property from our personal name into the LLC we already formed!? Because we have had name transfers before on the property through our counties appraisal district with no hassle and a simple application process. Is that the same route we should take again, considering we are both the owner of the property and the LLC itself?
Hi Clint! When I deed the property into my own trust for anonymity purposes and I have my Wyoming LLC as the trustee, doesn't the warranty deed still have my personal name on the grantee's side of the agreement when I sign on behalf of my Wyoming LLC?
My wife and I have names are on the deed if we transfer title or do warranty transfer in family Trust- irrevocable , will the bank call the loan? yes we have a mortgage on the property
Thanks for rememory, In the #4 the Proprietary the SILK ROAD got caught because him put the comentary Open in the Social midia is same the put your "residencial ADRESS" in the Internet...show your IP.
Awesome video and very informative! I have a AZ single member LLC with rental properties. I also have rental properties in NV under our personal names and am now wanting to move them to an LLC for asset protection (and perhaps tax benefits?). Is there any benefit to establishing a new NV LLC for the NV properties? Thanks!
I think you should consider a NV series LLC for the NV properties. If you would like a FREE 30-minute consultation, you can request one here - aba.link/clintss
Great content as always. Working on transferring real estate property in Pennsylvania from our names to our respective single-member LLCs in the state. To avoid potential tax ramifications later on and ensure asset protection, should the transfer be recorded on the deed as a gift or a sale? If it's a sale, what should the sale price be?
I would assume so if it is an investment property. I do not see many investment HELOC with qualified mortgage lenders on investment property. Usually you are using a non - QM lender.
@@ClintCoons I know it's exempt transfer in Georgia. Would it be a mistake not to pay the transfer tax? With no transfer tax, smart ones will know it's a related party transaction. I am holding it under a subsidiary of Wyoming holding LLC taxed as a partnership and anonymity is important to me. Now I am thinking about, FHA will give that away anyways.
@@buzybill Got it. Yes, you can do this, and it will appear that the property was sold if someone looks at the transfer record. The risk is with the lender. If the lender discovers, then it can accelerate.
Hi Clint - for anonymity, can we use our living trust on the title due to mortgages not supporting LLC? And then use nominate agreement to LLC for liability protection?
If its already done Im not sure other than seeking to purchase another title policy. Keep in mind title issues are rare so I am not sure if this something you need to move on.
Hello Clint, thank you for the video. Can you use a Warranty deed with a tax deed property to transfer under an anonymous LLC? or different deed type needs to be used? Best regards
@@ClintCoons Humm, I taught you are not able to get a marketable title for a property sold on a Tax deed auction until after 4 years or you quit the title. I am a little bit confused because my title company said I cannot sell it with marketable title however it can be passed through with help of lawyer if buyer accepts by a Quitclaim deed. how does that work?
#1 No Quit Claims, Special Warranty deed instead
#2 Identical Names on transfer, IDENTICAL
#3 Use legal description contained in original deed
#4 Address for property tax statements, either PO Box or Mail Forwarding.
Question! We own an LLC that will be used for our real estate portfolio. The property itself is in our personal names. However when we decide to build on this property wouldn't we use a Quitclaim deed to then transfer the property from our personal name into the LLC we already formed!? Because we have had name transfers before on the property through our counties appraisal district with no hassle and a simple application process. Is that the same route we should take again, considering we are both the owner of the property and the LLC itself?
Yes but use a warranty deed or something other than a QCD unless you will be taxed on the transfer and the QCD is exempt.
Hi Clint! When I deed the property into my own trust for anonymity purposes and I have my Wyoming LLC as the trustee, doesn't the warranty deed still have my personal name on the grantee's side of the agreement when I sign on behalf of my Wyoming LLC?
No - only the grantor's information will show up on the deed.
My wife and I have names are on the deed if we transfer title or do warranty transfer in family Trust- irrevocable , will the bank call the loan? yes we have a mortgage on the property
Hey! Great information thank you! Wondering why video only has audio until about 7:13? Thanks! Very much appreciate your work.
Thanks for rememory, In the #4 the Proprietary the SILK ROAD got caught because him put the comentary Open in the Social midia is same the put your "residencial ADRESS" in the Internet...show your IP.
Awesome video and very informative! I have a AZ single member LLC with rental properties. I also have rental properties in NV under our personal names and am now wanting to move them to an LLC for asset protection (and perhaps tax benefits?). Is there any benefit to establishing a new NV LLC for the NV properties? Thanks!
I think you should consider a NV series LLC for the NV properties. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/clintss
Thanks Clint!✅️ Your help has been of great assistance.
Glad to help
Insightful. Thanks Clint
Very welcome
Great content as always. Working on transferring real estate property in Pennsylvania from our names to our respective single-member LLCs in the state. To avoid potential tax ramifications later on and ensure asset protection, should the transfer be recorded on the deed as a gift or a sale? If it's a sale, what should the sale price be?
If your record the deed in PA you will pay a transfer tax. Are you aware of this?
What if i want to deed some of my LLC land asset to my personal to build a home ?
Shouldn't be a problem provided your LLC is not treated as a corporation for tax purposes.
No it's just a wedding venue that operates like a basic LLC.
Good information thank you
Glad it was helpful!
Thanks a lot Clint. You mentioned it’s challenging to do cash out refi if properties in LLC. What about Heloc? Do we still need 6 months out of LLC?
I would assume so if it is an investment property. I do not see many investment HELOC with qualified mortgage lenders on investment property. Usually you are using a non - QM lender.
Should I pay transfer tax or not to deeding to LLC with existing FHA loan?
Depends on the state or county. Most of the time it is an exempt transfer if you own the LLC.
@@ClintCoons I know it's exempt transfer in Georgia. Would it be a mistake not to pay the transfer tax? With no transfer tax, smart ones will know it's a related party transaction. I am holding it under a subsidiary of Wyoming holding LLC taxed as a partnership and anonymity is important to me. Now I am thinking about, FHA will give that away anyways.
@@buzybill Got it. Yes, you can do this, and it will appear that the property was sold if someone looks at the transfer record. The risk is with the lender. If the lender discovers, then it can accelerate.
Thank you Clint for the insight however what about if a person is holding Allodial title in their name, can they transfer title into a Trust??
Not sure.
Hi Clint - for anonymity, can we use our living trust on the title due to mortgages not supporting LLC? And then use nominate agreement to LLC for liability protection?
Are you referring to a residence or investment property?
What up coach!!
How do you correct these items when it comes to quick claim deeds?
If its already done Im not sure other than seeking to purchase another title policy. Keep in mind title issues are rare so I am not sure if this something you need to move on.
So what happens to your mortgage when you transfer the deed into your LLC?
It remains with the property.
Hello Clint, thank you for the video. Can you use a Warranty deed with a tax deed property to transfer under an anonymous LLC? or different deed type needs to be used? Best regards
Yes you can
@@ClintCoons Humm, I taught you are not able to get a marketable title for a property sold on a Tax deed auction until after 4 years or you quit the title. I am a little bit confused because my title company said I cannot sell it with marketable title however it can be passed through with help of lawyer if buyer accepts by a Quitclaim deed. how does that work?
@@oussamaattigui2527 Got me there. Not sure on this one.
Hi Clint can i use the series LLC in Massachusetts?
Mass does not recognize the series LLC
Fire ass video!
Thanks