This Quitclaim Deed is used where the Grantors are two individuals and the Grantee is a limited liability company. Grantors convey and quitclaim the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. This form complies with all state statutory laws.
Houston Texas Quitclaim Deed by Two Individuals to LLC
Category:
State:
Texas
City:
Houston
Control #:
TX-04-77
Format:
Word;
Rich Text
Instant download
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How to fill out Texas Quitclaim Deed By Two Individuals To LLC?
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FAQ
It is not just a case of forming a limited company and transferring your property by signing it over. You must sell your property to your new company at the market value, and this will attract some costs, for example: Capital Gains Tax. Stamp Duty Land Tax.
All property deeds ? $195 Any Property Deed needed to transfer real estate in Texas. Prepared by an attorney licensed in the state of Texas.
A Limited Liability Company, also known as an LLC, is a common type of entity which may be used to own real estate. A Texas LLC for real estate offers a number of benefits for property owners.
Quitclaim deeds are valid in other states, and they are also valid in Texas. The problem isn't with the validity of the deed, but with title insurance. Texas title insurance companies are notoriously wary of quitclaim deeds.
Here are eight steps on how to transfer property title to an LLC: Contact Your Lender.Form an LLC.Obtain a Tax ID Number and Open an LLC Bank Account.Obtain a Form for a Deed.Fill out the Warranty or Quitclaim Deed Form.Sign the Deed to Transfer Property to the LLC.Record the Deed.Change Your Lease.
All property Deeds prepared for $195 Do you have questions about a Quit Claim Deed?
Avoiding Personal Liability This is the major advantage of an LLC. You want the best option for limiting your personal liability should an unforeseen circumstance arise relating to your property. LLCs provide that protection.
Laws. Recording (V.T.C.A., Property Code § 11.001) ? This form must be filed at the Recorder's Office in the County Clerk's Office. Signing (V.T.C.A., Property Code § 12.001) ? The Grantor(s) has the choice of authorizing this form in the presence of Two (2) Witnesses or a Notary Public.
