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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). Transferring assets into a living trust: Can you do it yourself? ? articles ? transferring-as... ? articles ? transferring-as...
Generally, the trustee must be an attorney, title insurance company, trust company, bank, savings and loan, credit union, or other company specifically authorized by law to serve as a trustee.
In North Carolina, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. Avoiding Probate in North Carolina - Nolo nolo.com ? legal-encyclopedia ? north-carol... nolo.com ? legal-encyclopedia ? north-carol...
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.
In real estate law, "assignment" is simply the transfer of a deed of trust from one party to another. This usually happens when the beneficiary of a trust deed sells their loan to another lender.
Drafting of legal documents, including deeds, mortgages, and other transaction documents must be prepared by a NC attorney. NCGS § 84-2.1. Non-attorneys may provide limited services in a real estate closing including witnessing of closing documents and receipt and disbursement of closing funds.
$1,000 to $3,000 The cost of creating a trust in North Carolina varies, but a basic Revocable Living Trust generally ranges from $1,000 to $3,000. The cost may be higher for more complex trusts or if you require the assistance of an attorney. Online legal services can offer more affordable alternatives for creating trusts. North Carolina: Make A Revocable Trust Online in 12 Minutes | Snug getsnug.com ? north-carolina-trusts getsnug.com ? north-carolina-trusts
The assets you cannot put into a trust include the following: Medical savings accounts (MSAs) Health savings accounts (HSAs) Retirement assets: 403(b)s, 401(k)s, IRAs. Any assets that are held outside of the United States. Cash. Vehicles. What Assets Cannot Be Placed in a Trust? - SmithTaire Legal smithtaire.com ? blog ? what-assets-cannot-be-pla... smithtaire.com ? blog ? what-assets-cannot-be-pla...