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    BBARRYWHITE's Avatar
    BBARRYWHITE Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Sep 30, 2008, 03:54 PM
    Title change
    How do I change title to business name
    BBARRYWHITE's Avatar
    BBARRYWHITE Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Sep 30, 2008, 03:56 PM
    House title change
    How do I change title on the house to business name
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #3

    Sep 30, 2008, 04:55 PM
    You have to prepare a deed from the current owner to the new owner and then have the deed recorded in the county clerk or county register's office.

    If there is currently a mortgage on the property then it is very likely that this change will be in violation of the mortgage and you run the risk of being declared in default.

    If you intend to proceed with this then I suggest that you have this handled by a real estate attorney or title company. If you make a mistake it can be very difficult and costly to fix.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #4

    Oct 1, 2008, 06:14 AM
    Hello B:

    You need to sell the property to the business.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Oct 1, 2008, 08:04 AM

    Any change in the registered ownership of a property (with the exception of adding a spouse or transferring to a trust) is considered a sale of the property. This means there may be legal and tax issues involved, especially if the transfer is to a business entity.

    I would consult your accountant or lawyer.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #6

    Oct 1, 2008, 10:42 AM

    They are correct, if there is a lien ( mortage) on the home, it may need to be refi in the name of the business, if it is owned outright, you do a deed to the name of the business. Also it will change the type and cost of insurance on the home, it will change your tax status and more
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