General Warranty Deed Signed and RecordedToday I stopped by the downtown law offices of Kohnen & Patton LLP to sign the General Warranty Deed that I hired them to prepare, transferring the Isabella property from myself to the Oakley Home 2 LLC. Following the signing, the deed was delivered to the Hamilton County Recorder's office where it was recorded. The property transfer should be showing up on the auditor's site within the next couple days and I will also be receiving a copy of the signed and recorded deed later in the week. In the end, the cost for K&P LLP to prepare the deed will likely end up totaling a couple hundred dollars or so in attorney fees, but the recording costs themselves were only $28.00, making the sum of money spent in creating an LLC, opening a bank account for the LLC and transferring the property ownership into the LLC less than $500 total (including legal costs), which isn't all that much when you consider the extra protection doing this provides. With my entity structure now in place, I can turn my focus to construction financing the rest of the week, so stay tuned for a future blog post on that process.
February 14 Update: The Auditor's website has now been updated to show the transfer of ownership to Oakley Home 2 LLC. Below is a screenshot with the updated property information.