How To Move Rental Property Into An LLC (DO THIS FIRST)

Summary

This video provides a critical checklist for rental property owners before transferring a property into an LLC. Attorney Clint Coons explains why simply using a Quitclaim Deed is a major mistake that can cloud title and undermine anonymity. He outlines a clear decision-making process focusing on two key questions: whether the property has a mortgage (and who owns it), and whether the transfer will trigger expensive transfer taxes or property tax reassessments. The video offers specific solutions, such as using a Warranty Deed for direct transfers or employing a Land Trust as a strategic vehicle to avoid potential mortgage and tax complications.