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Warranty deed or quit claim deed

Fort Lauderdale, FL |

I own a house, but i only have the certificate of title. I want to put that property under my business name instead of my name. can i do that? is it a warranty deed or quit claim deed? if both which one is better? i guess the warranty deed is better.
broward, fl

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Attorney answers 4

Posted

Both a quit claim deed and a warranty deed will convey title. However, if you convey by quit claim deed, you may be giving up the coverage from any title insurance you have on the property. If you business is a corporation rather than an LLC, you should not transfer any real property to it. Preparing a deed can be tricky. Rather than trying to do it yourself and making a mistake that will come back to haunt you later, you should consult an experienced real estate lawyer in your area to address your concerns and help you prepare the necessary deed.

Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.

James P. Frederick

James P. Frederick

Posted

I agree that this should only be done after consultation with a lawyer who can review your objectives to make sure that your plan is best for you.

Posted

The real question would be why you would put the property in business entity and expose it to creditor claims. In addition, if you put it in a corporation you will subject the real estate to double taxation if it is later sold. Get with a tax attorney before you engage in a transaction that has tax and legal implications.

Hope this helps.

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Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net , his website for more tax, estate and business articles is www.sjfpc.com. and his blog is

LEGAL DISCLAIMER Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net , his website is www.sjfpc.com. and his blog is <http://frommtaxes.wordpress.com/> Mr. Fromm is ethically required to state that the response herein is not legal advice and does not create an attorney/ client relationship. Also, there are no recognized legal specialties under Pennsylvania law. Any references to a trust, estate or tax lawyer refer only to the fact that Mr. Fromm limits his practice to these areas of the law. These responses are only in the form of legal education and are intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

Posted

I agree that an important, unstated fact in properly addressing this question is whether this is your homestead or not. The answer may be heavily dependent on that fact. Further, I would ask why you are proposing this. I often have clients who tell me they want a deed but I never just prepare one without discussing the "whys."

Posted

I have read your question and all the answers. If you have a "title" instead of a deed-you can not convert the "title" you have to a quit claim or warranty deed to a corporation. You can only transfer the title to the corporation. It appears your home might be a manufactured home(not real estate).

The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.

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