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Commonly Asked Questions about Warranty Deed Transfer to LLC

Transferring your property into an LLC can activate the due-on-sale clause of your mortgage, requiring the balance to be paid in full.
If the property has appreciated in value, a capital gains tax might apply. However, if the LLC is a single-member entity classified as a disregarded entity for tax purposes, the transfer generally has no immediate tax consequences.
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.
The annual fee for an LLC in North Carolina is $200. Owning Property in a Multi-Member LLC (or Partnership): Property may be transferred to or taken out of an LLC, typically, without any immediate tax consequences. Unlike an S corporation, partnerships, corporations, and other LLCs can be owners in an LLC.
Follow these steps to transfer your property to an LLC in Charlotte, NC: Create an LLC. The first step is to create an LLC with the North Carolina Secretary of State. Obtain an EIN. Draft an Operating Agreement. Transfer the Property. Update Mortgage and Insurance. Obtain Necessary Permits.
A North Carolina deed is used to convey real estate from one person to another in North Carolina. Deeds are required to have the name of the grantor, the name and address of the grantee, the name of the preparer and an acknowledgment by a notary.
To transfer the land to the LLC the owner(s) must sign a deed and the deed must be recorded with the county recorder of the county in which the real estate is located.