This form is a Special Warranty Deed where the Grantor is a Trust, with a single Trustee, and Husband and Wife, or Two Individuals, as Grantees. Grantor conveys and specially warrants the described property to the Grantees. This deed complies with all state statutory laws.
Virginia Special Warranty Deed from a Trust (single Trustee) to Husband and Wife / Two Individuals
Category:
State:
Virginia
Control #:
VA-034-78
Format:
Word;
Rich Text
Instant download
Description Warranty Deed Form Virginia
Free preview Special Warranty Deed Virginia
How to fill out Virginia Special Warranty Deed From A Trust (single Trustee) To Husband And Wife / Two Individuals?
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FAQ
A trustee deed offers no such warranties about the title.
A warranty deed protects property owners from future claims that someone else actually owns a portion (or all) of their property, while trustee deeds protect lenders when borrowers default on their mortgage loans.
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.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
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).)
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.
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.
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.