Posted on: 18th Feb, 2008 08:03 pm
I had my mother complete living trust for the our small home. My father left me our home but never put it in wiriting and my mother wanted to ensure that I was the one to receive the home after her death. We now want to add me as a joint tenant. Can the trust quitclaim the property back to her and me as joint tenants? We live in california.
Hi Youngest child,
Welcome to the forums.
The trust can transfer back the property to the individual by executing a either a quitclaim or a grant deed. The latter is a preferred one if there is no lien on the property.
Take Care
Welcome to the forums.
The trust can transfer back the property to the individual by executing a either a quitclaim or a grant deed. The latter is a preferred one if there is no lien on the property.
Take Care
Thank you for replying. Do you know if I can list it as the trust and me or do I list my mom and me on the quitclaim? We own the house outright.
Hi youngest child,
Welcome back.
On the quitclaim deed, the trust should be listed as grantor and you and your mom as the grantee. The grantor is the one transferring property to the grantee.
However, i would suggest that you take an attorney's help while drafting the deed. yes, they would require a fee, but at least you get the deed drafted property as per your requirements. Also, the quitclaim deed has to be the one approved by your state. So, where do you stay actually? may be i can provide you with a sample and then if you need further modifcations, you can ask the attorney to make changes in the language as per your requirements.
Take Care
Welcome back.
On the quitclaim deed, the trust should be listed as grantor and you and your mom as the grantee. The grantor is the one transferring property to the grantee.
However, i would suggest that you take an attorney's help while drafting the deed. yes, they would require a fee, but at least you get the deed drafted property as per your requirements. Also, the quitclaim deed has to be the one approved by your state. So, where do you stay actually? may be i can provide you with a sample and then if you need further modifcations, you can ask the attorney to make changes in the language as per your requirements.
Take Care
Thanks Sara for the quick replies. We live in San Diego County. I know I have to also file an exemption to waive the reassessment. When you say deed you mean the quitclaim deed - right?
When i say "deed", i mean the quitclaim or grant deed. Bith are good for your situation. However, I just suggested that you go for a grant deed because you hopefully have no debt or lien on the home. This is because a grant deed implies that the grantor has ownership rights and he is transferring property.
On the other hand, the quitclaim deed implies just the transfer and does not confirm that the grantor has ownership rights legally. Even though it is used widely, yet this is something that a quitclaim deed doesn't ensure. So, I felt you would do better with a grant deed, though more or less both are similar.
I hope it wasn't confusing :)
Take Care
On the other hand, the quitclaim deed implies just the transfer and does not confirm that the grantor has ownership rights legally. Even though it is used widely, yet this is something that a quitclaim deed doesn't ensure. So, I felt you would do better with a grant deed, though more or less both are similar.
I hope it wasn't confusing :)
Take Care
Oops! just forgot to add the sample deeds above:)
Here they are:
http://arcc.co.san-diego.ca.us/docs/quitclm.pdf (Quitclaim deed)
http://arcc.co.san-diego.ca.us/docs/grntdeed.pdf (Grant deed)
Take Care
Here they are:
http://arcc.co.san-diego.ca.us/docs/quitclm.pdf (Quitclaim deed)
http://arcc.co.san-diego.ca.us/docs/grntdeed.pdf (Grant deed)
Take Care
If I understand you correctly, the house is held in trust. If so, the best thing to do is amend the trust to make you the successor beneficiary after your mother. Then, you don't have to bother with filing anything. You have paid money for that trust, you might as well us it.
Also, joint tenancy can have unintended tax consequences or force you to go to probate court when your mom passes.
Contact the attorney that drafted the trust, or look online for a simple amendment form.
Also, joint tenancy can have unintended tax consequences or force you to go to probate court when your mom passes.
Contact the attorney that drafted the trust, or look online for a simple amendment form.
Thanks - I am the successor but worry about Department of Health taking the house beause she has used Medi-Cal (medi-cade) services.