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Video Guide on LLC Property Acquisition Documents management

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Commonly Asked Questions about LLC Property Acquisition Documents

Transferring Property to the LLC The deed should clearly state the LLC as the new owner of the property. File the Deed with the County Recorders Office Once the deed is prepared, file it with the county recorders office where the property is located. This officially transfers ownership of the property to your LLC.
To transfer the ownership of a New York LLC to another party, you must file a Certificate of Amendment with the New York Department of State (DOS). The Certificate of Amendment must include details of the transfer, such as the name and address of the new owner(s).
Transferring your property into an LLC can activate the due-on-sale clause of your mortgage, requiring the balance to be paid in full.
Protects From Personal Liability You may own the LLC, but the LLC does not own you or your personal assets. When LLCs own a property, the owner of those LLCs are removed from any liability.
To change a deed in New York City, you will need a deed signed and docHubd by the grantor. The deed must also be filed and recorded with the Office of the City Register. Transfer documents identifying if any taxes are due must also be filed and recorded with the City Register.