Scottsdale Arizona Warranty Deed from a Trust to a Trust

Name: Scottsdale Arizona Warranty Deed from a Trust to a Trust
Brand: US Legal Forms
Rating: 4.59 (332 reviews)

Category:

Arizona Real Estate - Deeds - Warranty

State:

Arizona

City:

Scottsdale

Control #:

AZ-046-78

Format:

Instant download

Description

This form is a Warranty Deed where the Grantor is a Trust and the Grantee is a Trust. Grantor conveys and generally warrants the described property to the Grantee. This deed complies with all state statutory laws.

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FAQ

A warranty deed is a legal document used when a piece of real estate is sold and the ownership is transferred from the grantor (seller) to the grantee (buyer). The form usually includes a description of the property and discloses all known encumbrances like easements, outstanding liens or judgments.

To create a living trust in Arizona you need to create a trust document that lays out all the details of your trust and names the trustee and beneficiaries. You will sign the document in front of a notary. To complete the process, you fund the trust by transferring the ownership of assets to the trust entity.

A trust avoids handing over valuable property, cash or investment while the beneficiaries are relatively young or vulnerable. The trustees have a legal duty to look after and manage the trust assets for the person who will benefit from the trust in the end.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

According to Legal Zoom, a general warranty deed guarantees that: The grantor legally owns the property and has the legal right to transfer it. There are no outstanding mortgages, liens or other claims against the property by any creditor.

Under a Deed of Trust, there are generally three parties the borrower, the lender and the Trustee, who holds title to the lien for the benefit of the lender and whose sole function is to initiate and complete the foreclosure process at the request of the lender.

Your total costs could be less than $100, or it could be a $300, depending on the online program you select. If you choose to hire an attorney to help you create the trust, the attorney's fees will determine your total costs. You could end up paying more than $1,000.

With your property in trust, you typically continue to live in your home and pay the trustees a nominal rent, until your transfer to residential care when that time comes. Placing the property in trust may also be a way of helping your surviving beneficiaries avoid inheritance tax liabilities.

The Arizona warranty deed is a form of deed that provides an unlimited warranty of title. It makes an absolute guarantee that the current owner has good title to the property. The warranty is not limited to the time that the current owner owned the property.

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But living trusts are more complex and can cost thousands of dollars. A beneficiary deed provides a lower-cost alternative with many of the same benefits.What Is a Beneficiary Deed? What Is The Difference Between Guardianship and Conservatorship? How Arizona Beneficiary Deeds stack up against other types of deeds. Mary Sue Slebos Living Trust, dated April 01, 2014. 9675 East Harvest Road. Click here to learn more about Quit Claim and Warranty Deeds. Trust Administration. They did a great job setting up the plan documents and completing several warranty deeds.

Scottsdale Arizona Warranty Deed from a Trust to a Trust

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FAQ

What is a warranty deed used for?

How do I put a property in a trust in Arizona?

Why would you put a property into a trust?

How do I transfer property to a trust in Arizona?

What is the difference between a warranty deed and a mortgage?

Who holds title in a deed of trust in Arizona?

How much does it cost to set up a trust in Arizona?

How do I transfer a deed to a trust in Arizona?

Is putting your house in trust a good idea?

What is a warranty deed in Arizona?

What is a warranty deed used for?

How do I put a property in a trust in Arizona?

Why would you put a property into a trust?

How do I transfer property to a trust in Arizona?

What is the difference between a warranty deed and a mortgage?

Who holds title in a deed of trust in Arizona?

How much does it cost to set up a trust in Arizona?

How do I transfer a deed to a trust in Arizona?

Is putting your house in trust a good idea?

What is a warranty deed in Arizona?

Interesting Questions

What is a warranty deed?

Why is a warranty deed important?

What is a trust?

Why would a property be transferred from one trust to another?

What are the key elements of a warranty deed?

Who is the grantor and grantee in a warranty deed from a trust?

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