Transferring property into an LLC.

[AKF]

Can you move properties you already control and have contracts on intoa new LLC? Can you transfer those out of your name and move them into an LLC? If so, what are the steps?

[BLL]

You have to be the owner in order to transfer. You also have concerns with transfer taxes and fraudulent transfers.

[AKF]

Thanks! 6ood to know. 

[yrush2000]

when moving a property from your name to an LLC, it called QCD (Quit Claim Deed) 

[BLL]

when moving a property from your name to an LLC, it called QCD (Quit Claim Deed) 

You can also use a warranty deed. A quit claim voids title insurance and can create a fraudulent transfer concern in the future.