I have just purchased a property under my own name and now I would like to transfer it to my newly formed LLC. How do you officially transfer the property?
2007-02-26 10:29:50 · 3 answers · asked by drf2684 1 in Business & Finance ➔ Renting & Real Estate
you make a deed from you to the LLC (their name) and record it in the county court house where the property is located. Be sure to add the new asset to your asset books in the LLC If you transfer personal property other than real estate you need to fill out a Bill of sale from you to the LLC and also record it.
Buena Suerte
2007-02-26 11:45:23 · answer #1 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Maybe best to the the LLC "buy" your property in exchange for a percentage of the LLC. then file the new deed with your county recorder of deeds
2007-02-26 18:40:42 · answer #2 · answered by kanman1958 3 · 0⤊ 0⤋
We suggest you contact a CPA or Attorney in order to ensure that the transfer is done correctly. It's not difficult, but it is an area where many people make mistakes that involve an audit by the IRS.
2007-03-02 12:55:27 · answer #3 · answered by Jay S 3 · 0⤊ 0⤋