Title verification is available at http://deedandrecord.com/
California trust transfer by quit claim deed is available at http://deedandrecord.com/
Call 949-474-0961 or go to www.deedandrecord.com for more information.
Deed and Record is the low cost provider in quit claim deeds. Save $150 compared to other online services. The service includes recording the deed with the County Recorder’s office and payment of all filing fees at no additional cost.
Asset Transfer by Trust is a Two Step Process.
First, assets are transferred into the trust while the person is living.
Second, when the person dies assets are transferred from the trust to persons who are living as directed in the trust.
California home owners who have a trust but have not completed the transfer of assets into the trust will not avoid probate. The trust is in reality a glorified Will.
Deed and record will prepare a quit claim deed to fund the living trust, prepare and file required transfer tax exemptions and record the deed with the proper county recorder.
Why a Quit Claim Deed?
A quit claim deed does not contain any implied warranties. The owner who “quit claims” real estate simple conveys whatever ownership interest he or she has along with any debt or loans secured by the property. The quit claim owner makes no promises and the property is taken “as is.” A quit claim is the easiest and cheapest way to transfer ownership to a trust.
Why Preliminary Change of Title Report?
Each county assessor's office in California reviews all recorded deeds for that county to determine which properties require reappraisal under the law. Proposition 13 requires the county assessor to reassess the property to its current fair market value as of the date the change.
Since property taxes are based on the assessed value of a property at the time of acquisition, a current market value higher than the previously assessed Proposition 13 adjusted base year value will increase the property taxes. But there are exclusions.
Transfers in and out of a trust are exempt. To obtain the exclusion, the grantee fills out a form for the county assessor entitled Preliminary Change of Ownership Report (PCOR).
Why Record the Deed?
The deed must be made part of the public record so the world knows there has been a change of ownership. The deed must be recorded in the county where the real property is located.
Make it “Legal”
A properly prepared quit claim deed must have a legal description so the county recorder’s office can add the deed to the public chain of title. The legal description is not the street address. The legal description has at a minimum the map, block and lot number of the real estate property. County recorders will not accept a quit claim deed without a legal description.
Receive Personal Service
Now home owners can use the internet to verify title and fund trusts. Homeowners can stay at home while at the same time receive personal service from a real person.
To begin or for more information please go to http://www.DeedAndRecord.com, or call Mark at 949-474-0961 or email to Mark@DeedAndRecord.com.
# # #
Mark W. Bidwell, Attorney at Law and CPA, Inactive. Practicing law since 2002 in estate planning, trusts, probate, elder law, and corporate law. Office is by the John Wayne airport in Orange County, California