Santa Clara California Grant Deed - Corporation to Trust

State:
California
County:
Santa Clara
Control #:
CA-026-78
Format:
Word; 
Rich Text
Instant download

Description

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

A Santa Clara California Grant Deed — Corporation to Trust is a legal document used to transfer real estate property ownership from a corporation to a trust entity located in Santa Clara, California. This type of transfer is commonly utilized for a variety of reasons, such as estate planning, asset protection, or streamlining the management of real estate assets. In a Corporation to Trust Grant Deed, the transfer is initiated by the corporation that currently holds the title to the property. The corporation legally conveys ownership to the trust, effectively changing the property's titleholder. This type of transaction requires careful attention to detail to ensure a smooth transfer and to comply with the legal requirements of Santa Clara County. The Santa Clara County Recorder's Office plays a crucial role in recording and validating grant deeds. Once the parties involved in the transfer execute the Corporation to Trust Grant Deed, it can be submitted to the County Recorder's Office for recording. This recording provides an official record of the change in ownership and protects the rights of both the corporation and the trust. Different variations of Santa Clara California Grant Deed — Corporation to Trust may include: 1. California Grant Deed — Corporation to Living Trust: This type of Grant Deed facilitates the transfer of property ownership from a corporation to a living trust. Living trusts offer various benefits, such as probate avoidance, privacy, and flexibility in managing and distributing assets. 2. California Grant Deed — Corporation to Irrevocable Trust: When utilizing an irrevocable trust, the corporation transfers property ownership to a trust that cannot be altered or revoked without the consent of the beneficiaries. This type of trust is often utilized for asset protection or tax planning purposes. 3. California Grant Deed — Corporation to Revocable Trust: Revocable trusts grant the settler (the individual creating the trust) the ability to modify or revoke the trust at any time during their lifetime. This type of trust offers flexibility, especially for estate planning purposes. It is important to consult with legal professionals or experienced real estate attorneys specializing in trust and estate matters to ensure that the appropriate Grant Deed is prepared accurately and in compliance with the laws and regulations of Santa Clara, California. Proper execution and recording of the Grant Deed will help protect the rights and interests of all parties involved in the property transfer.

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FAQ

Who Pays Transfer Taxes: Buyer or Seller? Depending on the location of the property, the transfer tax can be paid either by the buyer or seller. The two parties must determine which side will cover the cost of the transfer tax as part of the negotiation around the sale.

In Santa Clara County, the seller pays them. In San Mateo County, the buyer pays. The fees (which include title insurance) are based on the purchase price and run $5,000-$10,000 on average. Every county has a transfer fee, which is usually $1.10/$1,000 of purchase price, usually paid by the seller.

Santa Clara County Public Records Santa Clara Assessor. (408) 299-5500. Go to Data Online. Santa Clara Tax Collector. (408) 808-7900. Go to Data Online. Santa Clara Mapping / GIS. Go to Data Online. Santa Clara Clerk/Recorder. (408) 299-5688. Website Only.

The Documentary Transfer Tax is due on all changes of ownership unless an applicable statutory tax exemption is cited. It is computed at a rate of $. 55 per $500 or fractional portion of real property value, excluding any liens or encumbrances already of record.

You can obtain a copy of your Grant Deed directly from the Los Angeles County Registrar-Recorder/County Clerk. No third party assistance is needed. The County Registrar-Recorder mails the original Grant Deed document to the homeowner after it is recorded. Therefore, you should already have your original Grant Deed.

Who pays transfer tax in Santa Clara County? The seller pays. In Santa Clara County, the custom is that the city transfer tax fee is divided 50-50 between the seller and buyer. The buyer pays the recording fees, and the seller pays the county transfer tax, escrow fees, and title insurance costs.

Transfer tax is collected on sales, exchanges, legal entity changes of control and leases of more than 35 years (including options) among other forms of transfers. In Northern California the seller of the property customarily pays the transfer tax during the escrow process.

Who pays transfer tax in Santa Clara County? The seller pays. In Santa Clara County, the custom is that the city transfer tax fee is divided 50-50 between the seller and buyer. The buyer pays the recording fees, and the seller pays the county transfer tax, escrow fees, and title insurance costs.

Contact Us Telephone: 408-299-5688. Email: clerkrecorder@rec.sccgov.org? In Person: 70 West Hedding Street. 1st Floor, East Wing.Hours: The Clerk Recorder's Office is open to the public for remote services, onsite for select services by appointment only and via the drop box. Click here to book an appointment.

More info

Only applicable when two deeds are recorded concurrently. You can usually fill out a new deed yourself.Transfers in and out of a trust are excluded from reappraisal and increase in property tax base. First American Title Insurance Company. The view that the free speech doctrine had been extended to corporations. ' For such a momentous decision, the opinion in the Santa Clara case is. You can usually fill out a new deed yourself. Fill out the application to renew your license. Sign in the Documentary Transfer Tax Box (top right). Create an account using your email or sign in via Google or Facebook.

Enter your new address. Print your deed and return it to the tax office. You may be required to complete an exemption for the transfer tax. Tax Rates: The tax rate is 5 per 100 of property value. You may pay the tax yourself on your personal income statements, or may use an accountant or tax preparer. Some local jurisdictions impose additional requirements and fees, such as a special assessment for real estate taxes for owner-occupied homes, exemptions, or additional assessment if the property was purchased in an estate and subsequently abandoned. You can usually fill out a new deed yourself. The following are common exemptions from the tax: Retirement benefit. Rent or mortgage on personal home, office, or automobile. Insurance payment (excluded by statute in California×. Home repairs with a reasonable estimate of 300 or less. Personal use of home. You may also have to make a special assessment, including additional assessments for the cost of insurance.

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Santa Clara California Grant Deed - Corporation to Trust