This form is a Quitclaim Deed where the Grantor is a Trust, acting through a Successor Trustee, to a Trust as Grantee. Grantor conveys and quitclaims the described property to Grantee. This deed complies with all state statutory laws.
Illinois Quitclaim Deed - Trust, by Successor Trustee, to Trust
Category:
State:
Illinois
Control #:
IL-024-77
Format:
Word;
Rich Text
Instant download
Description Illinois Successor Trustee
Free preview Illinois Quitclaim Deed
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Illinois Deed Trust Form popularity
Illinois Trust Trustee Other Form Names
Deed Successor
Illinois Deed Trustee
Deed Successor Trustee
Illinois Trust Successor
Il Successor Trustee
Real Legal Transfer
Deed Successor Contract
Illinois Quitclaim Trust FAQ
Yes, a quit claim deed supercedes the trust. The only thing that can be done is to file a suit in court challenging the deed as the product of fraud and undue influence. A court action like that will cost thousands of dollars, but might be worth it if the house was owned free and clear.
Party information: names and addresses of the trustor(s), trustee(s), beneficiary(ies), and guarantor(s) (if applicable) Property details: full address of the property and its legal description (which can be obtained from the County Recorder's Office)
Either draft or have an attorney draft a Trustee's Deed transferring ownership of the real estate out of the trust to the beneficiary. After it is signed, you and the beneficiary must go to the clerk of the court to have the deed recorded in the public records.
In the context of a California mortgage transaction, a trust deed also transfer ownership. Only this time, the title is being placed in the hands of a third-party trustee, who holds the property on behalf of the lender and the homeowner-borrower until the mortgage is paid.
California Property TaxesTransferring real property to yourself as trustee of your own revocable living trust -- or back to yourself -- does not trigger a reassessment for property tax purposes. (Cal. Rev. & Tax Code § 62(d).)
Obtain a California grant deed from a local office supply store or your county recorder's office. Complete the top line of the deed. Indicate the grantee on the second line. Enter the trustees' names and addresses.
Some owners are put off using solicitors duke to the deed of trust cost. Individuals can write out their own, and use someone else as a witness. However, this may have errors or not be a legally binding document. The investment of getting a deed of trust when buying a property is often worth it in the long term.
When you're ready to transfer trust real estate to the beneficiary who is named in the trust document to receive it, you'll need to prepare, sign, and record a deed. That's the document that transfers title to the property from you, the trustee, to the new owner.
A quitclaim deed can be used to transfer property from a trust, but a Special Warranty Deed seems to be a more common way to do this.