Quitclaim Deed - Individual to a Trust: This form is used when an individual person would like to transfer their rights to a certain parcel of land to a corporation for the property's value. The property's description is included in the document, and it should be signed in front of a Notary Public.
Phoenix Arizona Quitclaim Deed from Individual to a Trust
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-07A-77
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Quitclaim Deed From Individual To A Trust?
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Checklist: Preparing and Recording Your Quitclaim Deed Fill in the deed form. Print it out. Sign and get the signature(s) notarized. Prepare and sign an Affidavit of Property Value, if required. Check the recording fees in your county. Record the document at the county recorder's office.
To transfer assets such as investments, bank accounts, or stock to your real living trust, you will need to contact the institution and complete a form. You will likely need to provide a certificate of trust as well. You may want to keep your personal checking and savings account out of the trust for ease of use.
If you put things into a trust, provided certain conditions are met, they no longer belong to you. This means that when you die their value normally won't be counted when your Inheritance Tax bill is worked out. Instead, the cash, investments or property belong to the trust.
§ 33-412. B. Such unrecorded instruments, as between the parties and their heirs, and as to all subsequent purchasers with notice thereof, or without valuable consideration, shall be valid and binding.
A quitclaim deed is one of the common options to transfer ownership of a property in Arizona. Quitclaim deeds can be used in a variety of situations to legally transfer property to a trust, co-owner, or different ownership structure.
Arizona real estate is transferred using a legal document called a deed....The process involves four general steps: Locate the Prior Deed to the Property.Get a New Deed to the Property.Sign and Notarize the New Deed.Record the New Deed in the Land Records.
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.
An Arizona quitclaim deed (sometimes called a quitclaim deed or a quit claim deed) is used to transfer Arizona real estate with no warranty of title. The person creating the deed (grantor) does not guarantee that he or she owns the property or has the right to convey it to the new owner (grantee).
The Cons. While there are many benefits to putting your home in a trust, there are also a few disadvantages. For one, establishing a trust is time-consuming and can be expensive. The person establishing the trust must file additional legal paperwork and pay corresponding legal fees.
Recording (§ 11-468) ? All quitclaim deeds are to be filed, along with any necessary fee(s), with the County Recorder's Office in the jurisdiction of the property.