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CompanyLoan TypeAPREst. Pmt.

Quit Claim Deed, Trust to Individual, California

I am the successor trustee for a living revocable trust and am seeking to follow the instructions of the trust with regard to a specific property.

The trust owns a partial interest in this property (a condo) that also belongs to an individual beneficiary. So both the deed shows both the trust and the individual own this property.

The terms of the trust state that the beneficiary is to receive the trust's portion of the property, upon the death of the surviving trustor. The intent is that the beneficiary should then be the sole owner of the property.

There are no notes or lenders associated with the deed.

Is there a special rendition of the [url=http://www.mortgagefit.com/quitclaim-deed.html]Quit Claim Deed[/url] need to accomplish this?
(for instance - this is an inheritance, so there is no consideration of value exchanged).

Thank you.
Robert

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Robert,

This is a legal issue and I would suggest you to contact your real estate attorney in this matter. He would let you know whether or not you would be able to accomplish this with the help of a quit claim deed.

Thanks

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:25 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thank you kindly for your consideration. I'll certainly consider the use of an attorney. But perhaps I muddied the waters a bit much.
Boiled down to the essential elements, there are 2 trusted parties on a deed and one needs to be removed. I believe that can be accomplished with a Quit Claim deed. Does anyone know of any potential pitfalls with that approach? It doesn't seem like it should be that complicated just because one of the parties is a trust.
Any thoughts?

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:25 | Post subject:

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