4 Mistakes Not To Make When Deeding Property Into Your LLC Or Trust

What are the four (4) mistakes one can make on deeds? Clint Coons, Esq. will discuss what he sees as the four mistakes one can make on deeding their property into an LLC or Trust.

"There are a lot of things that can get messed up, especially with the legal description that could possibly cloud title, or could even create problems with your overall asset protection structure or with insurance." 0:28

We've prepared a simple list to help you follow the basics of what causes these mistakes to be made by many.

Deeds are often the first step in the process of transferring ownership of a property, and they are also the most important documents that you can have. They define what you own and who owns it. This is especially true when dealing with multiple owners or tenants who wish to keep their identities private.

They also set legal precedence for any future disputes. Due to this, it is important that you have a good understanding of how deeds work and what kind of information should be included in them. Deeds are one of the most common types of land records that exist in real estate transactions. They’re usually used when there is more than one owner or tenant involved with a property who wishes to keep their identities private from each other and from government agencies (such as state revenue departments).

We hope that our content is able to help you avoid these mistakes and help develop your understanding of deeds. If you enjoyed the video, please consider subscribing to the channel and checking out some of our other videos. If you have any questions or comments, feel free to leave them in the comment section below!

Show Notes:
0:00 Intro
0:16 Briefing
0:46 Quitclaim Deed
2:40 The Name
5:18 Description
6:41 Personal Address
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#llc #realestateinvestor

[d.e.brenner]

#1 No Quit Claims, Special Warranty deed instead
#2 Identical Names on transfer, IDENTICAL
#3 Use legal description contained in original deed
#4 Address for property tax statements, either PO Box or Mail Forwarding.

[cameronh]

Question! We own an LLC that will be used for our real estate portfolio. The property itself is in our personal names. However when we decide to build on this property wouldn't we use a Quitclaim deed to then transfer the property from our personal name into the LLC we already formed!? Because we have had name transfers before on the property through our counties appraisal district with no hassle and a simple application process. Is that the same route we should take again, considering we are both the owner of the property and the LLC itself?

[cosleylake]

Hey! Great information thank you! Wondering why video only has audio until about 7:13? Thanks! Very much appreciate your work.

[solomonfaison]

My wife and I have names are on the deed if we transfer title or do warranty transfer in family Trust- irrevocable, will the bank call the loan? yes we have a mortgage on the property

[FatalFarrow]

Hi Clint! When I deed the property into my own trust for anonymity purposes and I have my Wyoming LLC as the trustee, doesn't the warranty deed still have my personal name on the grantee's side of the agreement when I sign on behalf of my Wyoming LLC?

[cattychong]

Since you said don't use quite claims deed, should I use warranty deed when I transfer the property to the living trust in Texas? I am thinking to create a trust and move the property to the trust to avoid probate court once my husband I pass away. Would you please recommend use the warranty deed to transfer the property to the living trust? Thank you.

[courtneyreid]

Thanks Clint!✅️ Your help has been of great assistance.

[hisserver]

Great content as always. Working on transferring real estate property in Pennsylvania from our names to our respective single-member LLCs in the state. To avoid potential tax ramifications later on and ensure asset protection, should the transfer be recorded on the deed as a gift or a sale? If it's a sale, what should the sale price be?

[kathywong]

Awesome video and very informative! I have a AZ single member LLC with rental properties. I also have rental properties in NV under our personal names and am now wanting to move them to an LLC for asset protection (and perhaps tax benefits?). Is there any benefit to establishing a new NV LLC for the NV properties? Thanks!

[buzybill]

Should I pay transfer tax or not to deeding to LLC with existing FHA loan?

[melhoresprodutos]

Thanks for rememory, In the #4 the Proprietary the SILK ROAD got caught because him put the comentary Open in the Social midia is same the put your "residencial ADRESS" in the Internet...show your IP.

[bravedream]

Thanks a lot Clint. You mentioned it’s challenging to do cash out refi if properties in LLC. What about Heloc? Do we still need 6 months out of LLC?

[skytouchephotos]

What if i want to deed some of my LLC land asset to my personal to build a home ?

[rmmoss]

Thank you Clint for the insight however what about if a person is holding Allodial title in their name, can they transfer title into a Trust??

[nguye]

Hi Clint - for anonymity, can we use our living trust on the title due to mortgages not supporting LLC? And then use nominate agreement to LLC for liability protection?

[privatemortgage]

How do you correct these items when it comes to quick claim deeds?

[oussamaattigui]

Hello Clint, thank you for the video. Can you use a Warranty deed with a tax deed property to transfer under an anonymous LLC? or different deed type needs to be used? Best regards

[PhilHongNguyenMD]

So what happens to your mortgage when you transfer the deed into your LLC?

[elvynalmarante]

Hi Clint can i use the series LLC in Massachusetts?