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Transferring property title into a trust

On Behalf of | Oct 12, 2022 | Estate Planning

A property owner in Florida transfers a deed after buying or selling a house and transferring its ownership. The grantor of a trust may want to include land or property in an agreement. There are certain steps for transferring a house’s title into a trust agreement.

Types of deeds

Estate planning that involves transferring a property title requires the creation and signing of a new deed. Warranty deeds and quitclaim deeds are the two main types. A warranty deed guarantees that the title is clear and can be sold legally by the property owner. A quitclaim deed does not provide the same guaranteed warranty about the title. It is mostly used between trusted family members who do not plan to search for the title or obtain title insurance.

Creating a new deed

The new deed has to contain descriptions of the property and be signed and dated by the legal owners. The document is notarized in front of two witnesses. The local county office receives a copy of the notarized deed. The office is required to record the deed in the county where the property is located.

Transferring the ownership of real estate usually requires the granting of a new deed. The owner chooses a warranty or quitclaim deed that includes a statement about the validity of the property title. The document contains the name of the new owner and is signed in front of witnesses. The deed is recorded in the county where the property is located. When the property owner dies, or other terms of the trust are met, the property title is legally passed onto the beneficiary.