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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Recording mechanics... Posted by Nancy LA on March 19, 2004 at 7:54 AM In Reply to: Recording mechanics... posted by Ward-CA- on March 19, 2004 at 6:41 AM : : I'm trying to quitcliam deed my investment property to a land trust (I'm the beneficiary now, will change it to my LLC when it's set up). I'm not too sure about how to fill the form. what to put in as documentary transfer tax. The house was bought for 168,400 in San Bernadino County, CA .. Do I actually have to pay the stated transfer tax? : : The Quitclaim deed goes like this: : : The undersigned grantor(s) declares(s): : : Documentary transfer tax is $_____________ : : (check box) Computed on the full value of property conveyed, or : : (check box) Computed on the full value less the value of liens and encumbrances remaining theron at the time of the sale. : : (check box) Unincoroprated area (check box) city of _________ : : : thanks for the help! : : Nancy : ======================== : Nancy, : You only have to pay a transfer tax in the instance where a sale is taking place. All you're doing here is changing the way you hold title to your property. : So all you have to do is type on the documentary transfer tax line the following information "-0- Transfer to a revocable trust". Leave all other boxes unchecked and all other spaces vacant. : Down at your Recorder's Office, when you're recording your deed, you will have to fill out and turn in a Preliminary Change of Ownership Report (PCOR). Other than the top part of the form, all you will have to fill out is Part I and that's easy. Just check the YES box for H (2) and NO for all the other A thru L lines and sign the PCOR on the reverse side. : Hope this helps. ************************************************************** Ward, Thank you SO MUCH!!! It is a huge help!! Nancy Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : I'm trying to quitcliam deed my investment property to a land trust (I'm the beneficiary now, will change it to my LLC when it's set up). I'm not too sure about how to fill the form. what to put in as documentary transfer tax. The house was bought for 168,400 in San Bernadino County, CA .. Do I actually have to pay the stated transfer tax? : : : The Quitclaim deed goes like this: : : : The undersigned grantor(s) declares(s): : : : Documentary transfer tax is $_____________ : : : (check box) Computed on the full value of property conveyed, or : : : (check box) Computed on the full value less the value of liens and encumbrances remaining theron at the time of the sale. : : : (check box) Unincoroprated area (check box) city of _________ : : : : : thanks for the help! : : : Nancy : : ======================== : : Nancy, : : You only have to pay a transfer tax in the instance where a sale is taking place. All you're doing here is changing the way you hold title to your property. : : So all you have to do is type on the documentary transfer tax line the following information "-0- Transfer to a revocable trust". Leave all other boxes unchecked and all other spaces vacant. : : Down at your Recorder's Office, when you're recording your deed, you will have to fill out and turn in a Preliminary Change of Ownership Report (PCOR). Other than the top part of the form, all you will have to fill out is Part I and that's easy. Just check the YES box for H (2) and NO for all the other A thru L lines and sign the PCOR on the reverse side. : : Hope this helps. : ************************************************************** : Ward, : Thank you SO MUCH!!! It is a huge help!! : Nancy 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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