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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Problem Solved RE: Own Home Into Trust Posted by Gary on May 23, 2003 at 12:15 AM Ward: Reporting back as promised. As you know, I tried to record a grant deed of my personal residence into a title holding trust with my sister as the trustee. I also tried to use a transfer tax non-disclosure form so that the $0 for transfer taxes does not appear on the deed but on a second sheet that is not recorded. Purpose of this is to make it appear to the outsider that title has transferred from my estate. Well, the recorder wanted to put the words "non-disclosed" on the grant deed which defeats the purpose. I was able to get the transfer tax line on the deed left blank and recorded. Here was the problem and how we solved it. They were worried about a couple of things: 1) "If the transfer is to your trust, why does the trustee have a different name?" I explained it's not atypical but I can name anyone my trustee. Most just name themselves. I chose to name my sister. They understood...or so it seemed. 2) They were worried that I was not paying appropriate transfer taxes. If they understood #1 above, they wouldn't ask this question. Rather that try to pound it in there head, we wrote on the non-disclosure form that "no consideration was given for this transfer." That made them happy...at least enough to go ahead and record it the way I wanted. I found out that some of these clerks aren't the sharpest tools in the shed. You go outside what they are used to, they'll question you such that it tends to make you think you are doing something wrong. I found that rather than completely educating them on the use of trusts, I tried to find out what they need, what they're worried about, and satisfy them to the extent that I can get done what I need to get done. After leaving, they covered their a**es, I got the deed recorded as needed, ...but I bet they still have no idea why I did what I did. Gary Follow Ups: Good job. Ward-CA- 9:15 PM, 05/23/03 (1) Pulling a fast one... Ron M 10:34 PM, 05/23/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward: : Reporting back as promised. As you know, I tried to record a grant deed of my personal residence into a title holding trust with my sister as the trustee. I also tried to use a transfer tax non-disclosure form so that the $0 for transfer taxes does not appear on the deed but on a second sheet that is not recorded. : Purpose of this is to make it appear to the outsider that title has transferred from my estate. Well, the recorder wanted to put the words "non-disclosed" on the grant deed which defeats the purpose. I was able to get the transfer tax line on the deed left blank and recorded. : Here was the problem and how we solved it. They were worried about a couple of things: : 1) "If the transfer is to your trust, why does the trustee have a different name?" I explained it's not atypical but I can name anyone my trustee. Most just name themselves. I chose to name my sister. They understood...or so it seemed. : 2) They were worried that I was not paying appropriate transfer taxes. If they understood #1 above, they wouldn't ask this question. Rather that try to pound it in there head, we wrote on the non-disclosure form that "no consideration was given for this transfer." That made them happy...at least enough to go ahead and record it the way I wanted. : I found out that some of these clerks aren't the sharpest tools in the shed. You go outside what they are used to, they'll question you such that it tends to make you think you are doing something wrong. I found that rather than completely educating them on the use of trusts, I tried to find out what they need, what they're worried about, and satisfy them to the extent that I can get done what I need to get done. After leaving, they covered their a**es, I got the deed recorded as needed, ...but I bet they still have no idea why I did what I did. : Gary Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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