Why would someone do a quit claim deed?

Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.

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Pennsylvania Quitclaim Deed from Corporation to LLC

Corporation Limited Liability Company

Name: Pennsylvania Quitclaim Deed from Corporation to LLC
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.8 (265 reviews)

Category:

Pennsylvania Real Estate - Deeds - Quitclaims

State:

Pennsylvania

Control #:

PA-012-77

Format:

Instant download

Description Limited Liability Company Pennsylvania

This Quitclaim Deed from Corporation to LLC form is a Quitclaim Deed where the Grantor is a corporation and the Grantee is a limited liability company. Grantor conveys and quitclaims the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.

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How to fill out Pennsylvania Quitclaim Deed From Corporation To LLC?

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FAQ

A Quitclaim Deed must be notarized by a notary public or attorney in order to be valid.Consideration in a Quitclaim Deed is what the Grantee will pay to the Grantor for the interest in the property.

Fill in the deed form. Print it out. Have the grantor(s) and grantee(s) sign and get the signature(s) notarized. Fill out a Statement of Value form, if necessary. Get the Uniform Parcel Number (UPI) on the deed certified, if required by your county.

A quitclaim deed is a legal instrument that is used to transfer interest in real property.The owner/grantor terminates (quits) any right and claim to the property, thereby allowing the right or claim to transfer to the recipient/grantee.

How to Quitclaim Deed to LLC. A quitclaim deed to LLC is actually a very simple process. You will need a deed form and a copy of the existing deed to make sure you identify titles properly and get the legal description of the property.

Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.

The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.

However, there are substantial downsides associated with transferring your primary home into an LLC.If you are using your personal residence for estate planning purposes, a qualified personal residence trust (QPRT) may be more effective than transferring your property to a limited liability company.

You'll need to pay a fee, which varies from county to county. For example, in Montgomery County, near Philadelphia, the fee for recording a deed is $86.75 for up to four pages and up to four names, and $1 per additional name and $4 per additional page.

Corporation Limited Liability Company

Description Limited Liability Company Pennsylvania

Pa Quitclaim Corporation Related forms

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How to fill out Pennsylvania Quitclaim Deed From Corporation To LLC?

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Pennsylvania Limited Liability Company Form Rating

Pennsylvania Quitclaim Deed Form popularity

FAQ

Do quit claim deeds need to be notarized?

How do I file a quit claim deed in PA?

Is a quit claim deed a legal document?

Can you quit claim deed to an LLC?

Why would someone do a quit claim deed?

What are the disadvantages of a quit claim deed?

Can I transfer my primary residence to an LLC?

How much does it cost to file a quit claim deed in PA?

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Corporation Limited Liability Company

Description Limited Liability Company Pennsylvania

Pa Quitclaim Corporation Related forms

Related legal definitions

Viewed forms

How to fill out Pennsylvania Quitclaim Deed From Corporation To LLC?

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