California  |  Real Estate Law

Legal Question

Asked on: 12/22/05, 2:52 pm

Two living trusts hold deed to real property.

My domestic partner and I each have seperate living trusts and want to put our equally owned real property into each of our own trusts (fifty percent share into each trust.)Should the grant deed reflect the ''grantees'' as the trustees of each trust as joint tenants or tenants in common? Or no designation at all? What are the tax liabilities if it is held as two trusts with joint tenants? When put into a trust is there any reason to hold the real property as joint tenants (by the two trusts) when the trust makes each or us the others beneficiary?

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