Legal Question in Real Estate Law in Arizona

Transfer of House into LLC

I have a house that I need to transfer into my LLC. We have a completed Quit Claim, but I am not sure what to do from here. I would like to save money by doing it myself vs. using a title company if that is possible. I contacted the Maricopa County Recorder's office and they said I would also need an affidavit of real property value. Not sure what that is or where to get it.


Asked on 1/29/09, 6:54 pm

1 Answer from Attorneys
Brian Blum Blum Law Office, PLC

Re: Transfer of House into LLC

Does this property have a loan on it? If so, then you need to get the lender's permission before you record that deed. If you don't and the lender finds out about this transfer, they can probably accelerate the loan (i.e. make you pay it off immediately).

You can get the affidavit of property value from the Recorder's website. But, I'm not sure you need it. Look at the list of exemptions attached to the form.

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Answered on 1/29/09, 11:14 pm


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