QUESTION
After amending revocable trust to remove property, is it still necessary to file a quitclaim re-titling property from trust back to my ownership?
Asked on May 28th, 2013 on Estate Planning - Hawaii
20 ANSWERS
3 Awards
Yes.
Answered on Jul 24th, 2013 at 2:59 AM
Yes, a deed will be needed and filed with the county to show the change.
Answered on Jul 24th, 2013 at 2:59 AM
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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Yes, You need a deed to remove the property.
Answered on Jul 24th, 2013 at 2:58 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Yes, otherwise the amending process is not complete.
Answered on Jul 24th, 2013 at 2:58 AM
Yes, a deed from the trust is necessary if the prior deed to the trust was recorded.
Answered on Jul 24th, 2013 at 2:58 AM
2 Awards
Yes. Title controls and however the title reads upon death will be the presumed correct title/vesting.
Answered on Jul 24th, 2013 at 2:58 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Yes. As far as the world know, the trust owns the property. Even though you amended the trust, that only affects the beneficiaries of the trust, not the world.
Answered on Jul 24th, 2013 at 2:58 AM
Probate Attorney serving Palatine, IL
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Law Offices of Robert H. Glorch
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Yes. And you should speak with an estate planning attorney before taking that step.
Answered on Jul 24th, 2013 at 2:58 AM
Bankruptcy Attorney serving Henderson, NV
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Jeffrey A. Cogan Chartered, a PLLC
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Yes, because if the trust is still the owner and you have taken out the provisions in the trust regarding the property, it will be transferred pursuant to your residuary clause or the clause that says anything not specifically mentioned will be given equally to my beneficiaries. Or something like that.
Answered on Jul 24th, 2013 at 2:58 AM
Admiralty / Maritime Attorney serving Monrovia, CA
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The Law Office of Nathan Wagner
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Yes. If a deed was filed to put the property in the trust's name, you should file another deed to you from the trust in order to take the property out of the trust.
Answered on Jul 24th, 2013 at 2:58 AM
Trusts & Estates Attorney serving Camarillo, CA
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Law Offices of Larry Webb
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You do not amend the trust to add or remove property. If your property is described in your trust, you have a poorly drafted trust. You do add or remove real property by recording a deed with the proper language.
Answered on Jul 24th, 2013 at 2:58 AM
Amending the trust has no effect on the title to the real estate. One removes property from a trust by deeding it out of the trust. Unless that is done the trust still owns the property.
Answered on Jul 24th, 2013 at 2:58 AM
Yes, if property has been removed from the trust then it should be deeded back to you as an individual.
Answered on Jul 24th, 2013 at 2:57 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Yes, this should be done. Assuming the property was transferred to the trust in the first place, you need additional planning for it to wind up somewhere else.
Answered on Jul 24th, 2013 at 2:57 AM
Business Transactions Attorney serving Glendale, CA
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Richard E. Blasco, Inc.
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Yes. It is necessary to file a deed changing title from the trustee to the individual. However, note that there are issues related to whether or not you use a quit claim deed or a grant deed, and title insurance coverage that you need to address.
Answered on Jul 24th, 2013 at 2:57 AM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Yes. The county records are the final word on the ownership of real property.
Answered on Jul 24th, 2013 at 2:57 AM
Real Estate Attorney serving Honolulu, HI
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Zahaby Law Offices
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Absolutely. Yes.
Answered on Jul 24th, 2013 at 2:57 AM
Estate Planning Attorney serving Las Vegas, NV
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Erin Elizabeth Light Attorney at Law
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The Trust is a private document not meant to be published to the world. Therefore, just amending the Trust to remove the property as a Trust Asset does not give notice to the world (which is one of the reasons we title major assets, such as real property, cars, etc.). For the transfer of the property out of the Trust and back into your ownership, some type of titling document must be drafted and recorded with your county recorder's office. Quitclaim Deed are fine but they can cause problems down the road with change of title. I would suggest using a Grant, Bargain and Sale Deed instead. This should prevent any litigation down the road.
Answered on Jul 24th, 2013 at 2:57 AM
Sanford M. Martin
Yes, amending the trust language doesn't affect ownership. For real property it is necessary to transfer the property by deed from the trust back to whomever should be the owner.
Answered on Jul 24th, 2013 at 2:57 AM