Transferring property to an LLC in Florida offers liability protection but comes with complexities. Key considerations include losing homestead tax exemptions, triggering property tax reassessments, potential due on sale clauses from lenders, and transfer taxes. Additionally, financing and insurance rates might be less favorable, and LLCs require annual maintenance. While there are benefits, it’s crucial to weigh these against the drawbacks. Consulting a licensed Florida real estate attorney is advisable to make an informed decision. For more details, visit here.
Over 6 years, I’ve been a multi-million-dollar top producer with topnotch marketing, sales, and—above all else—a vast network and resources to achieve your real estate goals. I am a second generation Sarasotan and I love this city! I have since learned the intricacies of each neighborhood, each having its own unique and interesting history. Real estate is my true passion and I have built lasting relationships with many happy and satisfied clients. Let me be your local expert and help guide you through the market and process I know best. Let’s get on a call if you or someone you know is interested, my direct line is 941-284-0283.