The Smart Way to Deed Property to Your LLC

Summary

This video provides a clear, step-by-step guide for real estate investors and rental hosts on how to properly transfer a property's deed into an LLC for asset protection. The host, a tax expert, emphasizes the importance of an LLC in shielding personal assets from lawsuits related to a rental property. Key steps covered include forming the LLC, checking mortgage agreements for a "due-on-sale" clause, choosing and drafting the correct deed (like a Quitclaim Deed), and updating insurance policies. The video also warns against common pitfalls such as commingling funds and forgetting to update insurance, which can nullify the LLC's protection.