How do I avoid paying a “transfer fee” and/or avoid a new property tax assessment when I deed my property out of my name and in the Michigan LLC?

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How do I avoid paying a “transfer fee” and/or avoid a new property tax assessment when I deed my property out of my name and in the Michigan LLC?

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Each state is different and some states have “transfer taxes”. You can usually avoid these fees by showing the transfer agent (or tax assessor/county clerk) that you are still the owner of the LLC and that no material change in ownership has taken place. You can tell them you are changing title for asset protection and estate planning purposes. This is done when you take the deed down to be recorded in the county where your property is located. If you wish, at a later date, you can transfer the ownership of the LLC to someone else. This now becomes a “personal property” sale instead of a real property sale.

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