Depends on the interests of the other owners (signers do the deed). Normally yes, but I would not chance it without more information.
Feel free to call me for a no cost, no obligations consultation.
Scott A. Mac Leod is licensed to practice law in Arizona. The information provided here is for educational purposes only and is not intended as legal advice for a particular matter. This response does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult an attorney.
The short answer is yes, you can. Executing a quit claim deed simply transfers any interest you have in the property to whoever you deed your interest to. There may be other ramifications of executing the deed, however. For example if the property is subject to a HOA, it may assess a transfer fee; if you have insurance, you may not be covered after the transfer; and it may affect licensing, just to name a few.
Yes you may depending on how title is held. If the property is held as joint tenants or tenants in common then ther should be no issue with this as long as the property isn't governed by some other rules such as homeowners associations or condominium rules. A quit claim deed simply states that whatever your interest in a property is you are transferring, even if that interest is no interst. The only time the others would need to sign is if there were rights of survivorship involved or some sort of partnership, joint venture or shareholder,agreement involved.
This e-mail may contain confidential or privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail and delete this e-mail and all copies and attachments. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. IRS Circular 230 Notice: Unless specifically stated otherwise, any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Unless specifically stated otherwise, this communication shall not be deemed to be legal or tax advice, and no attorney-client relationship shall be deemed to have been created.
As long as there is no agreement among the three owners restricting your ability to transfer your respective interests, then you can execute a quitclaim deed or other deed to transfer your interest in the real property to the limited liability company. When you record the quitclaim deed, you'll be required to submit an affidavit of real property value. The property tax assessment for all owners could be impacted by the disclosure you make on the affidavit of real property value. Note that the affidavit form was revised recently.