My question involves real estate located in the State of: WA
I'm buying a property and closing in my personal name...I want to transfer it from personal name to LLC (for which I am the sole owner) immediately after closing...
what type of deed should i use when transferring to LLC? Warranty deed? I read a couple places that Quit Claim Deed can be used but can void title insurance...then I read that title insurance
would default to the "Standard" policy once it goes into the LLC...another title person told me as long as it's "like kind" ie personal to LLC with same owner then the LLC will retain the Homeowners title insurance...I'm very confused now and don't want to screw this up...I also don't want to trigger a "due on sale" clause for the loan of course...thoughts?
Thanks!
I'm buying a property and closing in my personal name...I want to transfer it from personal name to LLC (for which I am the sole owner) immediately after closing...
what type of deed should i use when transferring to LLC? Warranty deed? I read a couple places that Quit Claim Deed can be used but can void title insurance...then I read that title insurance
would default to the "Standard" policy once it goes into the LLC...another title person told me as long as it's "like kind" ie personal to LLC with same owner then the LLC will retain the Homeowners title insurance...I'm very confused now and don't want to screw this up...I also don't want to trigger a "due on sale" clause for the loan of course...thoughts?
Thanks!
Title Insurance: Transfer Personal Name to Llc.warranty Deed or Quit Claim.title Insurance Impact
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