Legal Question in Real Estate Law in Georgia

Hi LawGuru,

I have a rental property in GA, which I purchased it last year on my name, no mortgage associated with it. It was a cash deal. I would like to quit claim this property to my LLC and would like to know what woulb be the appropriate route to do so. I have heard that if I quit claim, I loose the title insurance and the LLC has to be a single owner. My LLC have people from my family on it. Please advise


Asked on 11/25/13, 6:39 am

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

In order to transfer the property to your LLC, you would need a quit claim deed from you to the LLC and record it in the courthouse.

Regarding the title insurance, it depends on the terms of the policy. Talk to your agent/broker about the transfer.

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Answered on 11/25/13, 6:46 am


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