Quitclaim Deed from a Limited Liability Company to Two Individuals - Oregon 2025

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Renting your home to yourself through an LLC allows you to treat it as a business property, potentially leading to more favorable tax treatment.
So, if title is already held by both the individual and the LLC, the most straightforward method is to use a quitclaim deed so that the LLC can renounce, or quit, their ownership in the property.
Its also important to note that a quitclaim deed transfers ownership interest to the grantee but does not guarantee the titles validity. Thats why using it during traditional real property sales is not recommended.
There should not be any income tax consequences of transferring the property from one LLC to another. The way that it should be structured is that you transfer the property to you personally and then transfer it to the other LLC. The basis that you had in the property would carry over to the other LLC.
0:09 1:54 A quick claim deed is a legal document that transfers ownership interest in real estate. It does notMoreA quick claim deed is a legal document that transfers ownership interest in real estate. It does not guarantee that the branch. Valit. Companies often handle real estate transactions.
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When property transfers from an LLC to an individual, its deemed as a sale. This means the LLC might be liable to pay taxes on any gains realized from the transfer. The gain is calculated based on the propertys current market value against its cost basis (the cost of acquisition plus any improvements).
You can put however many people you want. But quitclaiming part of your interest may not be the best idea.
The LLC itself cant make a gift, so the way to do that is that the LLC first reports a distribution of the property to the members and then the members, as individuals, each report a partial sale and partial gift. The income taxes of the sale are the same as if the LLC had been the seller, so nothing adverse there.

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