Legal Question in Real Estate Law in Wisconsin
Put 1/5 share of property in Trust
The deed is in 5 names as ''Tenants in Common''. How can I have my 1/5 share put into my Trust?
I live in Utah, the property is in Wisconsin.
1 Answer from Attorneys
Re: Put 1/5 share of property in Trust
You could do it a couple of ways, but I think the simpleist way would be to do a quit claim deed from you to your trust. That would pass your share only, since a quit claim deed only transfers what the grantor owns. In Wisconsin, to record a deed, you'd also need a transfer tax return. There are a list of exemptions in the instructions, and I'm not sure if a transfer to one's trust is exempt. If you hired an attorney to do the work, it should cost you $100-150, I'd guess, if you provide a copy of the legal description. Good luck!