Legal Question in Wills and Trusts in Arizona
Quit Deed Claim
I refinanced my home and have the loan in my Revocable Living Trust. The Title company gave me a ''Quit Deed Claim'' form. I said that was incorrect and asked for a Grant or Warranty Deed instead. Who is right?
1 Answer from Attorneys
Re: Quit Deed Claim
Thank you for your inquiry. When preparing a trust that includes real property (land or houses), it is customary to place the property in the trust by way of a quitclaim deed from the individual owner to the trust/trustee. A quitclaim deed simply means that you are granting all of your interest, whatever that interest might be. If you as an individual took title to the property by a warranty deed, this means that the title was sufficiently clear (not clouded). There is no reason for you as an individual to provide the same "warranty" to your trust (this would be redundant).
If you have a specific concern about the use of the quitclaim deed, please feel free to contact me at [email protected]. Otherwise, I see no reason not to execute the quitclaim deed offered by the title company.
/s/ Monica H. Donaldson, Esq.