This form is a Quitclaim Deed where the Grantors is a Trustee acting on behalf of the Trust and the Grantees are Three Individuals. The Grantees take the property as tenants in common or as joint tenants with the right of survivorship. Grantor conveys and quitclaims the described property to Grantees. This deed complies with all state laws.
Oklahoma Quitclaim Deed from Trust to Three Individuals
Category:
State:
Oklahoma
Control #:
OK-026-77
Format:
Word;
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How to fill out Oklahoma Quitclaim Deed From Trust To Three Individuals?
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FAQ
Locate the deed that's in trust. Use the proper deed. Check with your title insurance company and lender. Prepare a new deed. Sign in the presence of a notary. Record the deed in the county clerk's office.
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.
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.
A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
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).)
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 must meet all state and local standards for recorded instruments. Sign the deed in the presence of a notary public and record at the clerk's office in the county where the property is located for a valid transfer. Contact the same office to verify accepted forms of payment.
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.