A Real Estate, issued by individual state governments, offers proof that a business has complied with local business law. It also confirms that the business is properly registered with the state and is current on its state tax obligations. These documents are often required by banks, government agencies, and other organizations. Legal Ace can eliminate the hassle of dealing with government agencies to get your Certificate.
Yes. Your interest in real property can be transferred to a business entity by using a quit claim deed. This is generally considered a good idea, however, there is one major consideration you should take into account. If there is a mortgage on the property, there is a very high chance that your mortgage company has inserted what is called a due-on-sale clause into your contract. The clause basically states that any time you sell or transfer the property to a different person or business, they can force you to immediately pay up the balance of the loan. Transferring the property to the name of an LLC or corporation would activate this clause. They may not actually try to enforce it, but you should be aware of its significance.
Both deeds are used to transfer real estate. With a warranty deed, you transfer a title to property and make a promise that you own the property without any legal problems (such as creditors, liens, etc.). The warranty deed is commonly used when you sell real property to someone else. Chances are that when you bought your home, a warranty deed was given to you. With a quit claim, you simply transfer the property and make no promises whatsoever. Quit claims are commonly used when owners want to quickly, and easily transfer a title without having to make any promises.
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