J
jnindel
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How do I Move Personal Assets into a Corporation?
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. I am thinking of forming a corporation. Once I incorporate, how do I transfer my rental properties into the corp? Each of the mortgages are in my personal name now. How do I transfer their title? I would be doing this so as to limit my personal liability. Does the corporation somehow "buy" the properties from me, or do I simply change the name of the title with local taxing authorities? Is it easy to record a deed? Thanks for your help.
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. I am thinking of forming a corporation. Once I incorporate, how do I transfer my rental properties into the corp? Each of the mortgages are in my personal name now. How do I transfer their title? I would be doing this so as to limit my personal liability. Does the corporation somehow "buy" the properties from me, or do I simply change the name of the title with local taxing authorities? Is it easy to record a deed? Thanks for your help.
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