Legal Question in Real Estate Law in Georgia

Limited Liability on Rental Property

I have formed an LLC company but need to know how to put my rental property under it to limit my liability while maintaining rights to the property. Is this the correct thing to do?


Asked on 5/12/06, 9:31 am

1 Answer from Attorneys
Jon Gottlieb Flynn & Gottlieb, P.A.

Re: Limited Liability on Rental Property

Simply prepare, sign and record a Quit Claim Deed. Bear in mind the transfer may violate your existing loan. Therefore, you should get your lender's written consent. Also, you'll need to change your insurance coverage and assign the existing lease into the LLC's name.

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Answered on 5/12/06, 10:24 am


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