Legal Question in Wills and Trusts in California
Grant Deed
I want to transfer title on a piece of land that I own in California, that is in my name only. I want to tranfer title to my joint Trust account with my wife. Can I do this on the ''California Grant Deed'' only ? And not us the Preliminary Change in Ownership Report? After I state ''See Exhibit A attached hereto'' which is the property description, do I have to say ''This is a bonafide gift and the grantor received nothing in return''?
4 Answers from Attorneys
Re: Grant Deed
You can and should use a Quitclaim Deed form. If the transfer is to a revocable (living) trust, and you are a Trustor of the Trust, it is an exempt transfer. If you don't know how to indicate the exemption on the Change of Ownership report and the deed, check with the Assessor's office.
Re: Grant Deed
You can and should use a Quitclaim Deed form. If the transfer is to a revocable (living) trust, and you are a Trustor of the Trust, it is an exempt transfer. If you don't know how to indicate the exemption on the Change of Ownership report and the deed, check with the Assessor's office.
Re: Grant Deed
If you are in Los Angeles, right under the place where you state that documentary transfer tax is $none, you can state the exemption that applies. In your case, it would be �This conveyance transfers an interest into or out of a Living Trust, R & T 11930.� Usually you DON'T put this statement at the bottom of the deed after the legal description of the property.
Re: Grant Deed
You can use a grant deed, it's not the only way.