InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Placing Home in a Trust Posted by Ward-CA- on September 27, 2001 at 4:20 PM In Reply to: Placing Home in a Trust posted by Troy on September 27, 2001 at 10:34 AM : Ward, : I followed your suggestion and picked up Mr. Dacey's book through an Amazon.com auction ($5), How to Avoid Probate, and have just finished reading it. I was quite impressed. Thanks for the referral. : My parent's home is currently not held in trust and with my encouragement that will happen very soon. We've picked out the proper form to use and are ready to place the property in trust. : My question is this: Does recording the notarized quit claim and trust documents validate the trust, or is there something else that must be done to activate/validate the trust? Is there another office beside the county recorder that must be dealt with? : I also assume that a current deed of trust on the property will not be effected. Placing the property "in trust" only describes the way they hold title, correct? : Ward, : I followed your suggestion and picked up Mr. Dacey's book through an Amazon.com auction ($5), How to Avoid Probate, and have just finished reading it. I was quite impressed. Thanks for the referral. : My parent's home is currently not held in trust and with my encouragement that will happen very soon. We've picked out the proper form to use and are ready to place the property in trust. : My question is this: Does recording the notarized quit claim and trust documents validate the trust, or is there something else that must be done to activate/validate the trust? Is there another office beside the county recorder that must be dealt with? : I also assume that a current deed of trust on the property will not be effected. Placing the property "in trust" only describes the way they hold title, correct? =•=•=•=•=•=•=•=•=•=•=•=•=• Troy, you only record the transferring quit-claim deed, not the trust documents. Nor do you need to notarize the Declaration of Trust you should choose not to do so. The trust isn’t recorded or registered anywhere, thus affording a fair degree of privacy for the beneficiaries. You’re right, changing the way your folks hold title to their property won’t have any effect on any existing liens against the title of the property. Wow, I’m impressed you got the book so cheap and that you read it so quickly. Keep up the good work. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I followed your suggestion and picked up Mr. Dacey's book through an Amazon.com auction ($5), How to Avoid Probate, and have just finished reading it. I was quite impressed. Thanks for the referral. : : My parent's home is currently not held in trust and with my encouragement that will happen very soon. We've picked out the proper form to use and are ready to place the property in trust. : : My question is this: Does recording the notarized quit claim and trust documents validate the trust, or is there something else that must be done to activate/validate the trust? Is there another office beside the county recorder that must be dealt with? : : I also assume that a current deed of trust on the property will not be effected. Placing the property "in trust" only describes the way they hold title, correct? : : Ward, : : I followed your suggestion and picked up Mr. Dacey's book through an Amazon.com auction ($5), How to Avoid Probate, and have just finished reading it. I was quite impressed. Thanks for the referral. : : My parent's home is currently not held in trust and with my encouragement that will happen very soon. We've picked out the proper form to use and are ready to place the property in trust. : : My question is this: Does recording the notarized quit claim and trust documents validate the trust, or is there something else that must be done to activate/validate the trust? Is there another office beside the county recorder that must be dealt with? : : I also assume that a current deed of trust on the property will not be effected. Placing the property "in trust" only describes the way they hold title, correct? : =•=•=•=•=•=•=•=•=•=•=•=•=• : Troy, you only record the transferring quit-claim deed, not the trust documents. Nor do you need to notarize the Declaration of Trust you should choose not to do so. The trust isn’t recorded or registered anywhere, thus affording a fair degree of privacy for the beneficiaries. : You’re right, changing the way your folks hold title to their property won’t have any effect on any existing liens against the title of the property. : Wow, I’m impressed you got the book so cheap and that you read it so quickly. Keep up the good work. 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

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455