With a favorable real estate market, hundreds of Southern Californians investors with cash to spend have flooded the market in cities like Las Vegas. But they soon found out that filing quitclaim deeds in Nevada requires more paperwork than doing it in any California county.
After escrow closes, if you choose to transfer a property to a living trust, and claim the exemption for it, you’ll need to provide a copy of the trust itself.
Same thing if you transfer the property to a LLC (you’ll be asked to provide a copy of the operating agreement). In cases of LLC with several investors and only one of the investors on title, showing that grantors and grantees are the same parties and continue to hold the same proportionate interest in the property might be problematic.
The only consolation is that the transfer taxes are pretty low….