Posted on: 15th Jan, 2010 04:39 pm
i've read that you have to use a warranty deed in texas to transfer real estate into a revocable living trust. my husband and i own real estate that still has a mortgage on it. if a warranty deed warrants the property is free of liens, shouldn't we instead use a quit claim deed? if not, is there specific language we use in the warranty deed on property that still retains a lien?
Hi kendallsusan,
If there is a mortgage on the property, then you won't be able to use a warranty deed to transfer the property to a revocable living trust. You will have to use a quit claim deed in order to transfer the property. You should contact a Texas based attorney and ask him to draft the deed for you.
Thanks
If there is a mortgage on the property, then you won't be able to use a warranty deed to transfer the property to a revocable living trust. You will have to use a quit claim deed in order to transfer the property. You should contact a Texas based attorney and ask him to draft the deed for you.
Thanks