How do I Transfer a Title of Property From a Person to an LLC?

By Anna Assad

In most cases, forming your company as an LLC shields the personal assets of LLC members from company creditors. You must put the title, or legal ownership, of any company real estate in the name of the LLC to receive the legal protection. You may use a warranty deed, which carries a legal guarantee that the title to the property is free of problems, or a quitclaim deed, which transfers ownership interest without a guarantee, to put the title of real estate into the name of your LLC.

In most cases, forming your company as an LLC shields the personal assets of LLC members from company creditors. You must put the title, or legal ownership, of any company real estate in the name of the LLC to receive the legal protection. You may use a warranty deed, which carries a legal guarantee that the title to the property is free of problems, or a quitclaim deed, which transfers ownership interest without a guarantee, to put the title of real estate into the name of your LLC.

Step 1

Find the current deed for the property. Visit the county recorder's office where the property is situated to get a copy of the deed, if needed.

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Step 2

Get a blank deed form for use in the state the property is situated in. Visit a legal documents or print shop, or download blank deed forms online (see Resources).

Step 3

Enter the date, month and year of the transfer in the date section of the deed form.

Step 4

Enter the name of the person who owns the property on the deed form in the "grantor" section. Write the name exactly as shown on the current deed. Enter the person's current address after the name.

Step 5

Write the name of the LLC in the "grantee" section of the deed. Use the company name that appears on the LLC's state formation documents, such as the articles of organization. Enter the address of the LLC's principal office after the company's name.

Step 6

Write in the consideration on the deed form. The consideration is the sum being paid for the transfer. Contact the county recorder's office if no money is changing hands. Ask what amount you are required to use for a deed with no consideration. Write the amount on the deed.

Step 7

Write the legal description on the corresponding section of the deed form. Use the legal description -- the property's dimensions and boundaries in words -- from the current deed.

Step 8

Have the current owner sign and date the deed in front of a licensed notary. Contact the county recorder's office if you need the locations of licensed notaries in your area.

Step 9

Visit the county recorder's office with the completed deed. Ask the clerk if any additional forms must be filed out before you file the deed, such as a property transfer or tax form. Fill out any additional documents. File the deed to complete the transfer to the LLC. Request a copy of the deed for yourself.

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References

Resources

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A deed of trust to secure assumption is not a property ownership document. Some states, such as Texas and California, use filed deeds of trust instead of mortgages to secure payment of a home loan. Mortgages have a buyer and a lender, but deeds of trust have a third party, the trustee. The trustee holds temporary ownership of the property on behalf of the lender. If the homeowner stops paying the loan, the trustee can go through a streamlined process to foreclose on the home outside the state court system. If a person is transferring his interest in a property, and that property is subject to a home loan secured by a deed of trust, he's still liable for the loan even after he transfers his interest. The seller can use a deed of trust to secure assumption to create a second lien. The second lien is legally inferior to the home loan, but gives him the right to take the property back if the buyer doesn't pay the loan.

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People often form an LLC or limited liability company to protect their personal assets from attachment. If you own commercial or rental property, your attorney may advise you to deed that property into an LLC. If you own the property in your own name and are married, you may consider forming the LLC with your spouse, other investors or family members since you may have less asset protection under a sole-member LLC.

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As in any other state, divorcing Ohio spouses must arrive at a property settlement, either on their own or as imposed by the court. Sometimes it is necessary for one spouse to relinquish his or her interest in jointly owned marital property in order to facilitate the settlement. Transferring title to real property in Ohio during a divorce typically requires the relinquishing spouse to execute a quitclaim deed.

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