This form is a Warranty Deed where the Grantor is a Trust and the Grantee is an individual. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.
Maryland Warranty Deed from Trust to an Individual
Category:
State:
Maryland
Control #:
MD-023-78
Format:
Word;
Rich Text
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How to fill out Maryland Warranty Deed From Trust To An Individual?
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FAQ
Locate the deed that's in trust. Use the proper deed. Check with your title insurance company and lender. Prepare a new deed. Sign in the presence of a notary. Record the deed in the county clerk's office.
A quitclaim deed can be used to transfer property from a trust, but a Special Warranty Deed seems to be a more common way to do this.
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)
In the context of a California mortgage transaction, a trust deed also transfer ownership. Only this time, the title is being placed in the hands of a third-party trustee, who holds the property on behalf of the lender and the homeowner-borrower until the mortgage is paid.
California Property TaxesTransferring real property to yourself as trustee of your own revocable living trust -- or back to yourself -- does not trigger a reassessment for property tax purposes. (Cal. Rev. & Tax Code § 62(d).)
A warranty deed protects property owners from future claims that someone else actually owns a portion (or all) of their property, while trustee deeds protect lenders when borrowers default on their mortgage loans.
When you're ready to transfer trust real estate to the beneficiary who is named in the trust document to receive it, you'll need to prepare, sign, and record a deed. That's the document that transfers title to the property from you, the trustee, to the new owner.
A trustee deed offers no such warranties about the title.