eHow launches Android app: Get the best of eHow on the go.

How To

How to TRANSFER Real Estate to a LIVING Trust

Member
By richsc
User-Submitted Article
(1 Ratings)
Transfer Real Estate Living Trust
Transfer Real Estate Living Trust

One of the most common estate planning strategies is to create a living trust. A living trust is a legal entity which owns property that is controlled by a trustee (usually the person who created the living trust).

After the trustee's death, the trust distributes the property it owns quickly, directly and simply to the beneficiaries. The most important benefit of a living trust is the avoidance of probate.

In order to take advantage of the living trust benefits, personal and investment real estate deeds must be properly transferred to the living trust. If real estate is not transferred and retitled to show the legal name of the living trust, it will eventually have go through the costly and time consuming process of probate.

Follow these steps to transfer real estate deeds and titles to a living trust.

Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Attorney
  • See RESOURCES below for an Easy online process to transfer your property titles and deeds.
  • See RESOURCES below for an Easy online process to create a Living Trust.
  1. Step 1

    A real estate attorney or online deed transfer service that has experience with local title transfer procedures in your area must be located.

  2. Step 2

    All basic information about the property and a copy of the trust abstract (also titled a Certificate or Abstract of Trust) must be provided to the lawyer. The real estate deed will be retitled to show the legal name of the living trust.

  3. Step 3

    Research will be conducted by the lawyer to determine the exact "legal description" of your property and to confirm the current owner listed on the deed. The current owner will most likely be the individual who created the living trust - also known as the trustee.

  4. Step 4

    If any co-owner on the current deed has passed away, an affidavit will be prepared (a certified copy of the death certificate will be required).

  5. Step 5

    As trustee of the living trust, you will sign the new deed and have it notarized. The deed will be recorded and filed with the county recorder's office. Filing and recording usually takes between 4-8 weeks, depending on the individual counties processing time. The new original deed with the living trust named as owner is mailed to you when completed. This should be stored in a safe place like a safety deposit box at a bank.

  6. Step 6

    In order to take advantage of all the legal and financial benefits of living trust, all real estate deeds and titles must be transferred to the trust. The goal is to make the transfer time efficient, affordable and easy.

    See "RESOURCES" below for an easy, online and affordable process to transfer your property deeds and titles.

Subscribe

Post a Comment

Post a Comment

Related Ads

  • Have you done this? Click here to let us know.
I Did This
Get Free Personal Finance Newsletters

Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy.   en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.

eHow Personal Finance
eHow_eHow Business and Finance