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California Grant Deed - Husband and Wife to a Trust

Irvine California Grant Deed - Husband and Wife to a Trust

Name: Irvine California Grant Deed - Husband and Wife to a Trust
Brand: US Legal Forms
Rating: 4.58 (249 reviews)

Category:

California Real Estate - Deeds - Grant

State:

California

City:

Irvine

Control #:

CA-023-78

Format:

Instant download

Description

This form is a Grant Deed where the grantors are husband and wife and the grantee is a trust. Grantors conveys and grant the described property to grantee. This deed complies with all state statutory laws.

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FAQ

Both types of legal documents serve the same function of transferring ownership of real property. The fundamental difference between quitclaim deeds and grant deeds is the level of protection and warranty provided to the grantee.

Grant Deeds are used to transfer title of real property. This is done at the time of purchase and can be later recorded to add or remove individual's names after purchase.

Trustees Of A Trust Utilizing a revocable trust is the best way for a married couple to take title. Titling property in your trust avoids probate upon the death of both the initial and surviving spouses and preserves the capital gains step up for the entire property on the first death.

California mainly uses two types of deeds: the ?grant deed? and the ?quitclaim deed.? Most other deeds you will see, such as the common ?interspousal transfer deed,? are versions of grant or quitclaim deeds customized for specific circumstances.

A grant deed is a transaction between two people or entities without securing the property as collateral. A deed of trust is used by mortgage companies when a homeowner takes out a loan against the property.

The beneficiary can (where there is one beneficiary or if there are several beneficiaries and all of them agree) direct the trustee to transfer the trust property to him (if there are several beneficiaries to all of them) or to such other person as the beneficiary (or the beneficiaries may desire).

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.

The settlor establishes the trust by transferring the property. The trustee is the person in charge of managing the trust. The beneficiary is the one who will benefit from the trust. As the new legal owner of the property, the trustee manages it according to the settlor's wishes outlined in the deed.

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.

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The California Preliminary Change of Ownership Report is used to file your deed and to save you money on taxes. This video explains how to fill it out.Recorded Real Estate Document Searches FAQ. (click on question to see answer). When we purchased our home (in California), the title is under "Husband and Wife as community property with the right of survivorship" (as shown in Grant Deed). Type of Document: TRUST TRANSFER GRANT DEED. Relying on the trust deed securing the mortgage, Jane asserted ownership of the Irvine residence as the surviving spouse. To: Lawrence W. Moore, a married man as his sole and separate property. Hey Friend, thanks for checking out my video today.

Irvine California Grant Deed - Husband and Wife to a Trust

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FAQ

What is the difference between a deed and a grant deed in California?

What is a grant deed of trust in California?

What is the best way to hold title in California for a married couple?

What are the 2 main types of deeds to transfer property in California?

What is the difference between a grant deed and a deed of trust in California?

How do you transfer property into a trust?

What are the disadvantages of putting your house in a trust?

Who transfers property into a trust?

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

Interesting Questions

What is a Grant Deed?

Who are the parties involved in a Grant Deed - Husband and Wife to a Trust70293?

Why would a husband and wife transfer property to a trust?

What does 'Husband and Wife' mean in a Grant Deed?

What is the role of a trust in a Grant Deed - Husband and Wife to a Trust70293?

Do both spouses need to sign the Grant Deed?

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