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I have a Commercial Property (All clear No mortgage), on my name and my partners name, i want it to transfer it to a New LLC which I formed a week ago, for liability protection and tax benefits. What do I need to do? What forms need to be filed? i am in California.
Optional Information: State/Country relating to question: California Already Tried: Exploring options.
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Good afternoon. You will simply need to sign a quit claim deed transferring the property from yourself to the LLC. The deed needs to then be witnessed and notarized, and then recorded in the Real Property records of the city/county in which the property is located. Let me know if you need a form for the quit claim deed.
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Thanks for allowing meto be of service to you. Please be aware that the information provided here isnot legal advice. Rather it is simply general information. All states have intricacies in their lawsand any information given is simply information only and specifically is notintended to be, nor does it constitute, legal advice. This communication doesnot establish an attorney-client relationship with you. I hope this answer has been helpful to you.
do I need to use any Grant Deed form too?
You can use a grant deed in lieu of a quit claim deed, but you need not use both.