This form is a Warranty Deed where the grantor is an individual and the grantee is a trust. Grantor conveys and warrant the described property to trustee of trust less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws.
Seattle Washington Warranty Deed from Individual to a Trust
Category:
State:
Washington
City:
Seattle
Control #:
WA-015-77
Format:
Word;
Rich Text
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How to fill out Washington Warranty Deed From Individual To A Trust?
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FAQ
Property is often transferred into a trust as part of inheritance tax planning however the trust needs to meet certain conditions and to be set up correctly by a solicitor. By putting a property into trust rather than making an outright gift, you are able to control how the property is used after it is given away.
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia,
Start Deed of Trust StateMortgage allowedDeed of trust allowedWashingtonYWest VirginiaYWisconsinYWyomingY47 more rows
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 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 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.
In Washington, a Deed of Trust is the most commonly used instrument to secure a loan.
In Washington, real property must be transferred by deed. RCW 64.04. 010. The basic requirements for a Washington deed are that it must (1) be in writing, (2) be signed by grantor, (3) be acknowledged (i.e., notarized), and (4) contain a complete legal description of the property.
Start Deed of Trust StateMortgage allowedDeed of trust allowedWashingtonYWest VirginiaYWisconsinYWyomingY47 more rows