J
jnindel
Guest
I am a small-time real estate investor. I own several properties in Washington, D.C, and Florida. All of them are condos which I rent to tenants, mostly young couples (not other businesses). I am thinking of forming a corporation and applying for S Corp status. Once I incorporate, how do I transfer my rental properties into the S corp? Each of the mortgages are in my personal name now. How do I transfer their title to the S corp? I would be doing this so as to limit my personal liability. I am assuming that an S corp is the best mechanism for this purpose. Does the S corp somehow "buy" the properties from me, or do I simply change the name of the "owner" with local taxing authorities? Thanks for your help.