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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 110534
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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I had a property in Maricopa county Arizona under LLC with 4

Customer Question

I had a property in Maricopa county Arizona under LLC with 4 members (25 %share each),I buy out the share of all members and now own 100 % share in the property with no loan and clear title
I want to transfer the property from current LLC to different LLC (new LLC only have myself as member)
want to record quit claim deed in Maricopa recorder office
my question is this transfer is exempt pursuant to A.R.S 11-1134 what exempt code should I use ?
Submitted: 7 days ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 7 days ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The only exemption you can use is "from joint venture to joint venturer (you being the joint venturer)." There is no other exemption statute, so if you are the only member of the new LLC as one of the previous joint venturer, you would seek the exemption under the transfer from joint venture to joint venturer.
Of course, you can also seek to keep the same LLC and file an amended articles of organization removing the other LLC members from the current LLC and avoid this completely.