How do I transfer property from an LLC?

Step 1: Form an LLC or Corporation. You can't transfer your real estate property, or any other personal property, into your LLC or corporation until you've actually formed a new legal entity. Step 2: Complete a Quitclaim Deed. Step 3: Record Your Quitclaim Deed.

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 LLC to LLC or Corporation

Pennsylvania Quit Claim Deed

Name: Pennsylvania Quitclaim Deed from LLC to LLC or Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.59 (365 reviews)

Category:

Pennsylvania Real Estate - Deeds - Quitclaims

State:

Pennsylvania

Control #:

PA-025-77

Format:

Instant download

Description

This form is a Quitclaim Deed where a limited liability company as Grantor and the Grantee who is either a limited liability company or corporation. Grantor conveys and quitclaims the described property to grantee. This deed complies with all state statutory laws.

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FAQ

Step 1: Form an LLC or Corporation. You can't transfer your real estate property, or any other personal property, into your LLC or corporation until you've actually formed a new legal entity. Step 2: Complete a Quitclaim Deed. Step 3: Record Your Quitclaim 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.

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.

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.

To use a Quitclaim Deed to add someone to a property deed or title, you would need to create a Quitclaim Deed and list all of the current owners in the grantor section. In the grantee section, you would list all of the current owners as well as the person you would like to add.

It's usually a very straightforward transaction, but it's possible for a quitclaim deed to be challenged. If a quitclaim deed is challenged in court, the issue becomes whether the property was legally transferred and if the grantor had the legal right to transfer the property.

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.

But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.

To transfer property in Pennsylvania, you'll need to prepare and execute a deed and record it in the county where the property is located. If the transfer was in exchange for money, you'll have to pay transfer tax.

Pennsylvania Quit Claim Deed

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FAQ

How do I transfer property from an LLC?

Why would someone do a quit claim deed?

Can you quit claim deed to an LLC?

How do you fill out a quit claim deed in PA?

How do you put someone on a quit claim deed?

Will a quit claim deed hold up in court?

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

Can I prepare my own quit claim deed?

How do you transfer a deed in PA?

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