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California Grant Deed - Husband and Wife to a Trust

Santa Clarita California Grant Deed - Husband and Wife to a Trust

Name: Santa Clarita 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:

Santa Clarita

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

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.

Today, Californians most often transfer title to real property by a simple written instrument, the grant deed. The word ?grant? is expressly designated by statute as a word of conveyance. (Civil Code Section 1092) A second form of deed is the quitclaim deed.

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.

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.

The California TOD deed form allows property to be automatically transferred to a new owner when the current owner dies, without the need to go through probate. It also gives the current owner retained control over the property, including the right to change his or her mind about the transfer.

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.

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.

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You'll also keep a copy of the recorded deed to prove that you own the property. Defining how a married couple can hold title to a property.It must contain clear language that the spouse understands they have a right to the property and that they are knowing giving up that right. Find out more about how property transfers when a spouse dies. Updated 3718. California has very specific requirements for notarizing documents. With Drew Barrymore, Timothy Olyphant, Liv Hewson, Skyler Gisondo. The Santa Clarita Valley's water age. Spouse(s). Jenny Robertson. . Completing and submitting the petition don't have to be daunting.

Santa Clarita California Grant Deed - Husband and Wife to a Trust

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FAQ

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

What is the most commonly used deed to transfer property in California?

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 I transfer a deed to a trust in California?

What is a transfer deed in California?

Who transfers property into a trust?

How do you transfer property into a trust?

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

Interesting Questions

What is a grant deed in Santa Clarita?

Can a husband and wife transfer their property to a trust in Santa Clarita?

What is the benefit of transferring property to a trust?

Who needs to sign the grant deed in Santa Clarita?

Do I need an attorney to prepare a grant deed for a husband and wife to a trust in Santa Clarita?

Are there any specific requirements for the grant deed to be valid in Santa Clarita?

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