Legal Question in Business Law in Virginia
Transfer deed to LLC
How can I transfer our house deed, which is in my husband and my names to our LLC (which is only in our names)?
2 Answers from Attorneys
Re: Transfer deed to LLC
You should be able to effect this kind of conveyance with the standard general warranty deed with both you and your husband executing the deed with the required signatures.(You may also have to pay a sizeable transfer tax.)
If possible, it would be best (in my view) to let an attorney experienced in such matters handle it.
Re: Transfer deed to LLC
Mr. Hendrickson is correct. I have a case where people bought a house with a "do it yourself" real estate contract they made up on their own and ended up spending tens of thousands of dollars litigating over it when the sellers refused to go through with it.
We might ask WHY you want to do this. For example, is it for inheritance purposes? In that case you might want to arrange to do this upon death. But otherwise it must be done by a real deed, just as if you were selling to someone else, a stranger. And you WILL pay transfer taxes, more than likely, just like selling to a stranger.
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