QUESTION

Should we use quit claim deed or general warranty deed to transfer property from revocable living trust?

Asked on Feb 09th, 2015 on Estate Planning - Nevada
More details to this question:
We used quitclaim deed to transfer the property to the trust. Now, we would like to refinance. Should we use quitclaim deed or general warranty deed? We will also amend the trust by removing the property, and once the transaction is complete, we return the property back to the trust.
Report Abuse

1 ANSWER

Probate Attorney serving Las Vegas, NV
3 Awards
Usually a quitclaim deed is sufficient. Most times the lender will prepare it. You do not need to amend the Trust. After the refinancing is complete, so long as you are not violating the terms of the new note you may transfer the property back to the Trust via a quitclaim deed. It is usually a good idea to get something in writing from the lender authorizing you to put the property back into the trust. If you have questions, you should speak with your estate planning attorney. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Feb 10th, 2015 at 5:31 PM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters