QUESTION

I have a living trust. I want to get a loan and they won't give me a loan because my home is in a trust. Can I take my home out of the trust? And how.

Asked on Dec 07th, 2015 on Trusts and Estates - California
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1 ANSWER

Estate Litigation Attorney serving Redlands, CA at Price Law Firm, APC
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Yes, you can take the home out of a revocable trust by a grant deed or quitclaim deed.  Then, when you are done with your refinancing, you can put the house back into the revocable trust with a trust transfer deed.  Each time, you will want to submit a preliminary change of ownership report.  Make sure that you get the legal description, names and vesting correct.  Email or call an attorney if you need a hand with this, as this can be handled by email.
Answered on Dec 08th, 2015 at 5:17 PM

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