Louis Berkman Realty Co. to Lavej Properties Inc., metes, Steubenville Township; lots Glenn and Rebecca Schultz to Robert Gravley, lot 3, Quaker Estates.

Real Estate: Transfer a residential property to a corporation in CA?

Most deeds of trust in CA prohibit a sale or transfer of the mortgaged property without the consent of the lender.  So, as Mike correctly notes, call the lender and see what they need to accomplish this.  At a minimum, you can expect to have to guarantee any assumption of the loan by the Newco.

On a different note, conventional wisdom says that you should transfer real property to an LLC and not a corporation.  If the real property appreciates, you can typically distribute it back to yourself without incurring taxable gain, but the same may not be the case with a corporation.

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