This form is a Warranty Deed where the grantors are husband and wife
and the grantee is a trust. Upon ordering, you may download the form in Word, Rich Text or Wordperfect formats.
Indiana Warranty Deed from Husband and Wife to a Trust
Category:
State:
Indiana
Control #:
IN-015-78
Format:
Word;
PDF;
Rich Text
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FAQ
To transfer a property title to a family member in Indiana, you would typically use a deed, such as an Indiana Warranty Deed from Husband and Wife to a Trust. This deed ensures that the family member receives clear ownership of the property, protecting their interests. It's important to prepare the deed correctly and file it with the county recorder’s office. Legal assistance or using platforms like US Legal Forms can simplify this process significantly.
Party information: names and addresses of the trustor(s), trustee(s), beneficiary(ies), and guarantor(s) (if applicable) Property details: full address of the property and its legal description (which can be obtained from the County Recorder's Office)
The person who owns the property usually signs a promissory note and a deed of trust. The deed of trust does not have to be recorded to be valid.
Yes, there are key differences between the two. With a deed, you transfer the ownership of the property to one party. In contrast, a deed of trust does not mean the holder owns the property. In an arrangement involving a deed of trust, the borrower signs a contract with the lender with details regarding the loan.
How To Establish A Trust. You will need to retain an estate attorney to draft and execute your trust document. For a simple revocable or irrevocable trust, it may cost anywhere from $2,000 $5,000.
The advantages of placing your house in a trust include avoiding probate court, saving on estate taxes and possibly protecting your home from certain creditors. Disadvantages include the cost of creating the trust and the paperwork.
Take the signed and notarized quitclaim deed to your county recorder's office to complete the transfer of title into your revocable trust. Check in two to four weeks to ensure it has been recorded. Include the address of the property on the asset list addendum attached to your trust.
Transferring Real Property to a Trust You can transfer your home (or any real property) to the trust with a deed, a document that transfers ownership to the trust. A quitclaim deed is the most common and simplest method (and one you can do yourself).
If you've recently married and already own a home or other real estate, you may want to add your new spouse to the deed for your property so the two of you own it jointly. To add a spouse to a deed, all you have to do is literally fill out, sign and record a new deed in your county recorder's office.
Some owners are put off using solicitors duke to the deed of trust cost. Individuals can write out their own, and use someone else as a witness. However, this may have errors or not be a legally binding document. The investment of getting a deed of trust when buying a property is often worth it in the long term.