I need to quitclaim a property in CA and another in AZ that are under an llc with only me and my wife as members back in to o...
Full Question:
I need to quitclaim a property in CA and another in AZ that are under an llc with only me and my wife as members back in to our living trust. My question is do we need a quit claim deed from the llc to individuals and another from individuals to the trust or can it be transfered from the llc straight in to the trust and how do we sign the quitclaim deed, as members, partners or just our names and do both of us sign as grantors and grantees.
01/07/2009 |
Category: Real Property ยป Deeds |
State: California |
#14929
Answer:
The answer will depend on who is named as owner(s) on the current deed. Generally, if property is owned by a LLC, the property may be transferred by an authorized representative of the LLC, and his/her signature as grantor is made with the title indicating the position held as a representative of the LLC. Property may be transferred from an LLC directly to a trust. In such a case, the trust is the grantee and LLC is the grantor, and the deed is signed by a representative of the LLC, with the representative’s title stated along with the signature, indicating the transfer is made in their representative capacity for the LLC, rather than as an individual.
