California | Wills and Trusts
3/07/10, 5:38 am
Legal Question
how do I go about putting a home in a living trust in california
how do I go about putting a home in a living trust in california
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Read More Answered By: Shahram Miri |
You would need to execute a deed in which you transfer the home from yourself to the trustee of the your trust. For example, the deed would say something like John Smith grants to John Smith, trustee of the John Smith 2010 Trust and successor trustees, the property located at 123 Main Street.
Of note, your house would not be re-assessed for property tax purposes and there would be no documentary transfer tax applied to the transaction if you transferred it into a living trust.
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Read More Answered By: Aaron Feldman |
I agree with the previous answer, but would add the following caveat: We assume that the property is owned by you (or you and your spouse) and is a transfer into a living trust for you (or you and your spouse). If there are any other parties on title to the property other than the settlors to the trust, then you should consult an attorney to make sure the transfer accomplishes your objectives. |
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