Land transfer within Family

[Stcloudangler]

I would think this has been discussed in the past, but would like a few responses from people that have had experience in moving land from being in one person's name to an LLC (or other type of trust???)

Any ideas on the process, the money amount to go through starting an LLC and the title company, etc would be appreciated.

I looked some online but it seems more complicated than I originally thought.

Thanks!

[walleye18]

Best thing to do is contact the land folks at the county courthouse in which the land is in. They will walk you thru it. Should be cheap and simple.

Did this with a house/land in ND. Cost $40.00 to have everything processed and in the new owners name. Really simple.

[fivebucks]

This is something that requires a tax person or lawyer knowledge. There will be some income tax liabilities somewhere and the more you know going in will help in the decision of what to do.