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.
San Antonio Texas Quitclaim Deed by Two Individuals to LLC
Category:
State:
Texas
City:
San Antonio
Control #:
TX-04-77
Format:
Word;
Rich Text
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How to fill out Texas Quitclaim Deed By Two Individuals To LLC?
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FAQ
How do I add my spouse to the deed? In Texas, you can't add your spouse's name to an existing deed, but you can create a new deed by transferring the property from yourself to you and your spouse jointly. You can do this by using either a deed without warranty or a quit claim deed.
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 prepared for $195 Do you have questions about a Quit Claim Deed?
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.
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.
Benefits of Creating an LLC If your property is owned by an LLC, your personal assets are protected in the case of an extreme loss or lawsuit. Another benefit of setting up an LLC for your investment property is pass-through taxation. This means that the business does not have to file a separate tax return.
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.
All property deeds ? $195 Any Property Deed needed to transfer real estate in Texas. Prepared by an attorney licensed in the state of Texas.
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.