Warranty deed to transfer property to an LLC without a sale

[stephop]

I own several rental properties in Georgia. Based on what I've heard and read from various real estate experts, I'd like to file a new warranty deed on each property to transfer each title to a separate, single-member LLC. I would be the single member of each LLC. This will keep each of the titles separate from my other assets for asset protection purposes.

All the Georgia warranty deeds I've been able to find, including the original ones drawn up on my properties at closing, are based on selling the property to another owner. They contain a paragraph that says something like this: "Grantor, for and in consideration of the sum of ($_____________) DOLLARS in hand paid at and before the sealing and delivery of these presents, the receipt whereof is hereby acknowledged, has granted, bargained, sold, aliened, conveyed, and by these presents does grant bargain, sell, alien, convey unto the said Grantee, the below described tract or parcel of land more fully and completely described as follows:".

Since I am not actually selling the property, but instead simply transferring the title to my LLC, how should that paragraph be written in the warranty deed? Is it legal just to eliminate the reference to the sale and the money, and say something like, "Grantor has granted, bargained, aliened, conveyed, and by these presents does grant bargain, alien, convey unto the said Grantee, the below described tract or parcel of land more fully and completely described as follows:"? Or is there another, better way to write this?

Thanks in advance for your advice.

 

[Michael Wechsler]

Or put in the number "zero?"

 

[unclemoon]

What's wrong with a quitclaim deed? You already own the properties, and (presumably) have knowledge of the status if the title. If you're simply doing a paper trick to change ownership names, this may be a viable alternative.

 

[stephop]

It is my understanding that for various reasons a quitclaim deed is not the right instrument for me to use to transfer the title for this purpose. A quitclaim deed offers a lower level of protection and can present problems with title insurance because it transfers any interest I may have in the property without making any representations as to whether I owns the property or not. A warranty deed, on the other hand, transfers title, but gives the other party (in this case my LLC) a representation that I have an interest in that property.

Other suggestions are welcome.

 

[Barrz]

Quit Claim is just that, you are quiting any interest you have in the property, it is not a insterment to transfer title.
Not sure if you have what we would use here in Oregon, but here were would use a bargin and sale deed, and put $1 or write in transfering vesting.

 

[Barrz]

I might also add that if all properties are owned by the same person and all going to the same LLC, we would use one deed to transfer ownership allthough the leagal discription would be long.