This form is a Special Warranty Deed where the grantor is an individual and the grantee is a trust. Grantor conveys and warrants the described property to trustee of trust. This deed complies with all state statutory laws.
A Broward Florida Special Warranty Deed Individual to Trust is a legal document used to transfer property ownership from an individual to a trust. This type of deed provides certain warranties and protections to the grantee (trust) but limits the granter's (individual) liability to any flaws or defects in the property title that occurred during their ownership. A Special Warranty Deed ensures that the granter will defend the title against any claims arising from their ownership of the property. However, it does not guarantee that there are no existing encumbrances or defects in the title that originated before the granter's ownership. The granter only guarantees their actions during their ownership period, hence "special" warranty. In Broward County, Florida, there are various situations in which a Special Warranty Deed Individual to Trust may be used: 1. Individual to Revocable Living Trust: This type of deed is commonly used when an individual wants to transfer property ownership to their own revocable living trust. It allows the granter to maintain control and management over the property during their lifetime while ensuring seamless transfer to the trust upon their death. 2. Individual to Irrevocable Trust: Similar to the above, an individual may choose to transfer property ownership to an irrevocable trust. With this type of trust, the granter permanently relinquishes control and ownership rights over the property. It provides asset protection and estate planning benefits while ensuring the property goes directly to the designated beneficiaries. 3. Individual to Testamentary Trust: A testamentary trust is created through a person's will and becomes effective upon their death. With this type of deed, an individual can transfer property ownership to a trust that will be established upon their passing, allowing for seamless distribution of assets according to their wishes. 4. Individual to Qualified Personnel Residence Trust (PRT): In some cases, individuals may opt to transfer their primary residence into a Qualified Personnel Residence Trust. This specialized trust minimizes estate taxes by removing the property's value from the granter's taxable estate while allowing them to continue living in the residence for a specific period. When filing a Broward Florida Special Warranty Deed Individual to Trust, it is important to consult with a knowledgeable real estate attorney to ensure compliance with state laws and to properly draft the document, ensuring the necessary legal protections and warranties are included.
