California Real estate property held in trust by a person who has died avoids probate. But the real estate still must be transferred out of the Trust.
Irvine, California (PRWEB) April 09, 2012
California Real estate property held in trust by a person who has died avoids probate. The real estate still must be transferred out of the Trust. Transfer out of a trust requires two documents to be prepared post-death; an affidavit death of trustee and a quit claim deed.
Affidavit Death of Trustee
The Affidavit Death of Trustee is a declaration, under oath, by the successor trustee. The successor trustee declares the owner has died and attaches a certified copy of the death certificate. The successor trustee further declares he or she is authorized to take control of the real estate property according to the terms of the trust.
The affidavit is filed with the County Recorder. It is now of public record the successor trustee of the Trust has the authority to take control of real property in the County. Control is limited to what is directed by the Trust. Typically, the trust directs the successor trustee to distribute the California real estate to specified persons.
Quit Claim Deed
The second step is to prepare a quit claim deed from the Trust to the beneficiaries of the Trust or entering into a listing agreement for the sale of the real property. If sold, the proceeds from the sale of the California real estate is distributed to the persons identified in the trust and a quit claim deed is not needed.
A quit claim deed does not contain any implied warranties. The successor trustee who “quit claims” California real estate simple conveys whatever ownership interest the Trust has along with any debt or loans secured by the property. The successor trustee makes no promises and the real estate is taken “as is.” A quit claim is the easiest and cheapest way to transfer post-death ownership out of a trust.
For more information http://deedandrecord.com/trust_transfers/after_death_trust_transfers/admin or call 949-474-0961 or email to Mark(at)DeedandRecord(dot)com.
Deed and Record is an online service to prepare quit claim deeds for real property transfers into or out of trusts, remove former spouses and add or remove co-owners. The Company records deeds it has prepared with the appropriate government agency. Deed and Record does not offer legal advice or services.
The Company markets through websites, primarily DeedAndRecord.com. The owner of the websites is Mark W. Bidwell, Attorney at Law and CPA Inactive. The office is located at 18831 Von Karman Avenue, Suite 270, Irvine, California 92612. Phone number is 949-474-0961. Email is Mark(at)DeedandRecord(dot)com.