Asked in @US
Feb. 26, 2009
, 0 answers
How do I Transfer Real Property to LLC that has a Mortgage in Texas?
I have 7 properties in Texas, located in either Harris or Montgomery counties. The properties are either in my name solely or in the name of my brother and I, as some of them are jointly owned. We have formed a Texas LLC and wish to move all such properties into the LLC. Each property has a mortgage with a lender, who has a lien on the property I assume given their interest in the loan. Which deed do I use - warranty deed or quitclaim deed - and do I need to address the rights of the lender in the deed transfering the property from individuals to the LLC?
Please note the properties I am asking about are located in Texas, though my home address is in California
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