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gk77_2
Level 6
December 20, 2022
Solved

Quick Clain deed

  • December 20, 2022
  • 1 reply
  • 13 views

Hi,

One of my client in process of changing the rental properties' titles to LLC by Quick Clain deed. As the above process is taking time will it be ok if he change his bank details for rental property management company from personal accounts to his LLC account?

 

GK

This topic has been closed for replies.
Best answer by TaxGuyBill

That would be something to ask the bank and/or management company.

For tax purposes, changing title via a Quit Claim from an individual to a Single Member LLC means nothing.

1 reply

T
TaxGuyBillAnswer
Level 15
December 20, 2022

That would be something to ask the bank and/or management company.

For tax purposes, changing title via a Quit Claim from an individual to a Single Member LLC means nothing.

    IRonMaN
    IRonMaN
    Level 15
    December 20, 2022

    Yeah, the bank may or may not like that so your client should really get the bank's blessing before proceeding.

    Slava Ukraini!
      G
      gk77_2Author
      Level 6
      December 20, 2022

      Thank u so much

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