California Grant Deed Document With A Revocable Trust
Description
How to fill out California Grant Deed From Individual To Two Individuals As Tenants In Common?
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FAQ
Notarization. While not required, it is best practice to notarize the settlor's signature on the trust document. Funding the trust. The settlor must formally transfer ownership of assets to the trustee by retitling them in the name of the trust.
The trustee is the person that administers the trust. The trustee holds legal title to the property transferred into the trust by the settlor and acts as a fiduciary to the beneficiary to protect the assets in the trust.
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.
Revocable Living Trust: Real estate in California can be held by a revocable living trust. Title to the California real estate is held by the Trustee or Trustees of the trust who retains complete control over the trust and has complete power of direction over the real property.
Real estate can be transferred into a trust by a deed that transfers title from the grantor to the name of the trust. Under California law, a Preliminary Change of Ownership Report must be filed simultaneously with the deed at the county recorder's office in the county where the real property is situated.